Masdar, a renewable energy investor, recently announced the acquisition of Greek renewable energy company Terna Energy for 3.2 Billion Euros. This acquisition represents approximately 67% of Terna Energy’s outstanding shares, with plans to acquire the remaining shares through an all-cash mandatory tender offer. The transaction is the largest ever energy deal on the Athens Stock Exchange and marks a significant investment in Greece and other European countries.
The deal is expected to support Terna Energy’s efforts in Greece’s National Energy and Climate Plan (NECP) and the EU’s net zero by 2050 target. Masdar’s CEO, Mohamed Jameel Al Ramahi, expressed excitement about the collaboration and the opportunity to accelerate Terna Energy’s growth plans in the renewable energy sector.
Established in 1997, Terna Energy is a leading European clean energy platform, specializing in wind, solar, hydroelectric, and pumped storage projects. With a growth plan targeting 6GW of renewable energy operational capacity by 2030, Terna Energy is set to play a key role in Greece’s energy transition.
Masdar has enlisted the expertise of financial and legal advisors for the transaction, highlighting the strategic importance of the acquisition. Terna Energy, a subsidiary of Greek conglomerate GEK Terna, has a strong presence in the Greek renewable energy sector and is listed on the Athens Exchange.
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