Masdar, a leading renewables developer based in the UAE, has initiated negotiations for a full acquisition of Terna Energy SA, a Greek renewables firm aiming to achieve an operational capacity of 6 GW by 2030. The proposed transaction, valued at approximately EUR 3.2 billion including debt, marks a significant move in the EU renewables sector and the largest-ever energy transaction on the Athens Stock Exchange.
In a press statement released today, Masdar confirmed plans to acquire an initial 67% stake in Terna Energy, with intentions to launch a subsequent tender offer for the remaining shares. The proposed takeover terms, set at EUR 20.00 per share, imply an equity valuation of EUR 2.4 billion for Terna.
See also: RWE and Masdar Apply for Approval of 3GW Dogger Bank South Wind Farm in UK
“The transaction underscores Masdar's strategic ambitions in Greece and across Europe, reinforcing our commitment to expanding our global renewable energy footprint to 100 GW by 2030,” stated a spokesperson from Masdar, highlighting the company's growth trajectory and energy transition goals.
Established in 1997, Terna Energy specializes in the development, construction, and operation of renewable energy projects, including wind, solar, hydroelectric, and pumped storage facilities across Greece and Europe. The firm's market focus aligns closely with Masdar's objectives to enhance sustainable energy infrastructure and accelerate the global transition towards renewable resources.
See also: Masdar and SOCAR Break Ground on 1 GW Renewable Energy Projects in Azerbaijan
Shares of Terna Energy saw a 0.78% increase to EUR 19.33 in morning trading on Thursday, reflecting investor confidence in the proposed acquisition. Regulatory approvals will be pivotal for finalizing the transaction, which is expected to reshape the landscape of renewable energy investments in the region.
