Athens/Abu Dhabi – April 2025 | UAE-based Masdar has completed its full acquisition of Greece’s TERNA ENERGY, marking a pivotal moment in Europe’s renewable energy sector. The €3.2 billion transaction, now the largest energy deal in Greek history, gives Masdar 100% ownership of TERNA and strengthens its foothold across the continent’s green energy transition.
The acquisition, which included a mandatory tender offer and subsequent squeeze-out process for the remaining 30% of shares at €20 each, concludes with TERNA ENERGY’s delisting from the Athens Stock Exchange.
“With full ownership, we can accelerate TERNA ENERGY’s role as our regional flagship and help drive clean energy development across Europe,” said Mohamed Jameel Al Ramahi, CEO of Masdar.
Strategic Expansion into Europe’s Energy Core
Masdar first acquired a 70% stake in TERNA in late 2023, valuing the company at €3.2 billion. Now fully integrated, TERNA ENERGY gives Masdar operational control over Greece’s largest and most diversified renewables portfolio, which includes:
- Wind, solar, hydro, and biomass projects
- Operations in Poland (102 MW) and Bulgaria (30 MW)
- The upcoming 680 MW Amfilochia pumped hydro plant, one of Europe’s largest
- Nearly 200 MW of new photovoltaic developments under construction
The move directly supports Masdar’s global target of 100GW of clean energy capacity by 2030 and aligns with the EU’s Net Zero 2050 goals and Greece’s National Energy and Climate Plan.
A New Chapter for TERNA ENERGY
Georgios Peristeris, Executive Chairman of TERNA ENERGY and Chair of GEK TERNA, noted the strategic alignment between the two firms:
“Masdar’s acquisition marks a new era. Our shared commitment to clean, secure, and affordable energy gives us a strong platform for growth in Greece and across Southeast Europe.”
The deal received regulatory approval from the Hellenic Capital Market Commission, completing TERNA’s transformation into a fully owned Masdar subsidiary.
Advisors on the transaction included Rothschild & Co. (financial), Simmons & Simmons LLP, and Bernitsas Law (legal).
Masdar’s Growing Influence in Global Clean Energy
Backed by the UAE government, Masdar’s aggressive expansion into Europe adds to its rising global influence in sustainable infrastructure. With capital strength and technical depth, the company is well-positioned to bridge investment gaps and accelerate clean energy deployment across emerging and mature markets alike.
“This deal is more than a regional investment—it’s a statement of Masdar’s long-term commitment to Europe’s energy transition,” Al Ramahi added.
Masdar Logo on Wikimedia by Masdar Creative Commons 4 0
