UAE-based clean energy company Masdar has completed its full acquisition of Greek renewables firm Terna Energy, following the purchase of a remaining 30% stake, the company said on Thursday.
The transaction builds on a 70% stake acquired in November 2024 from GEK Terna and other shareholders, valuing Terna Energy at €3.2 billion. Masdar now plans to delist the company from the Athens Stock Exchange, pending regulatory approvals.
Terna Energy operates the largest portfolio of renewable energy assets in Greece and holds additional operations in Bulgaria and Poland. Its current installed capacity in Greece totals 1.2 gigawatts (GW), spanning wind, solar, biomass, and hydropower technologies. The company is also developing the 680MW Amfilochia pumped hydro project, alongside nearly 200MW of solar PV capacity under construction in Greece and Bulgaria.
“The successful completion of Terna Energy’s acquisition by Masdar marks the full integration of the two companies,” said Georgios Peristeris, CEO of Terna Energy. “Our shared commitment to clean, affordable, and domestically produced energy creates a powerful foundation for accelerated growth.”
Peristeris and the existing senior leadership team will remain in their roles following the acquisition.
“With full ownership of all shares, we can fully integrate Terna Energy into our global operations and accelerate the implementation of our shared vision for renewable energy development in Greece and across wider Europe,” said Masdar CEO Mohamed Jameel Al Ramahi.
He described Terna as Masdar’s “flagship platform in the region” and said the deal would support the company’s global clean energy capacity target of 100GW by 2030.
“This acquisition underscores Masdar’s commitment to driving the energy transformation in Greece and other European countries,” Al Ramahi added.
The move strengthens Masdar’s position in Europe’s renewable energy sector and aligns with its broader strategy to expand internationally through long-term capital investment and strategic partnerships.
