A significant milestone in our growth journey
Together, we will supercharge growth in Greece and Eastern Europe and develop TERNA ENERGY into a leading European development platform.
Mohamed Jameel Al Ramahi
Chief Executive Officer of Masdar
“Masdar is proud to become the majority shareholder of TERNA ENERGY, bringing together two energy champions. Our committed vision and long-term capital will unlock significant opportunities for further growth in TERNA ENERGY’s expansion as it executes on its strategy to support Greece’s renewable energy goals.Masdar’s acquisition strategy has focused on acquiring not just assets, but investing in exceptional teams. Our ambition is to establish TERNA ENERGY as one of our core regional platforms that will help us deliver on our ambitious targets."
Georgios Peristeris
Executive Chairman of TERNA ENERGY
“Our agreement with Masdar is a reflection of TERNA ENERGY’s unparalleled leading role in the green energy transition in Greece as well as in southeastern Europe, a result of our consistent and tireless efforts over the last 25 years to create the largest and fastest growing clean energy platform in our country. Sharing the same vision with Masdar for clean, affordable and domestically produced energy, we look forward to working together towards a future of endless growth possibilities for TERNA ENERGY."
Masdar is one of the world’s fastest-growing renewable energy companies, advancing the development and deployment of solar, wind, geothermal, battery storage and green hydrogen technologies to accelerate the energy transition and help the world meet its net-zero ambitions.
Established in 2006, Masdar has developed and invested in projects in over 40 countries with a combined capacity of over 31.5 gigawatts (GW), providing affordable clean energy access to those who need it most and helping to power a more sustainable future.
TERNA ENERGY, has been a key player in the renewable energy sector for over two decades, holding the largest and most diversified portfolio of projects in Greece, with 2,500 MW in operation, under construction and ready for construction.
TERNA Energy's installed capacity currently stands at 1,224 MW, while TERNA ENERGY is continuing seamlessly with its investment plan, aiming to approach a total installed capacity of 6GW by 2029. TERNA ENERGY is listed in Athens Stock Exchange.
Masdar is a long-term committed investor that brings international expertise at unlocking finance and new capacity through innovation and partnership.
The acquisition of TERNA ENERGY underscores Masdar's dedication to the Greek market and commitment to advancing together the global energy transition
100GW
Masdar’s target portfolio capacity by 2030
6GW
TERNA ENERGY’s goal by 2029
€3.2bn EV
Largest largest ever energy transaction on ATHEX
Deal timeline
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Jun 2024
Definitive agreements with GEK TERNA and other shareholders of TERNA ENERGY to initially quite 70% of TERNA ENERGY
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Jun - Nov 2024
Regulatory approvals
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28 Nov 2024
First share approvals completed; Masdar becomes majority shareholder of TERNA ENERGY
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Dec 2024 - Q1 2025
Masdar seeks regulatory approvals from the Hellenic Capital Markets Commission (HCNC) for the launch of an all-cash mandatory tender offer (“MTO”) to acquire all the remaining outstanding shares of TERNA ENERGY
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Q1 2025
Targeted deal completion
*Dates are indicative and may be updated as the transaction progresses
Media contact
press@masdar.ae
