The European Commission (EC) has approved the acquisition of Greek renewables firm Terna Energy SA by UAE-based developer Masdar, valuing the deal at approximately EUR 3.2 billion (USD 3.50 billion), including debt.
The EU merger watchdog concluded that the proposed transaction would not raise competition concerns due to the limited market positions of the companies involved, as stated in a press release.
Terna Energy specializes in wind, solar, hydroelectric, and pumped storage projects throughout Greece and Europe. The company aims to achieve an operational capacity of 6 GW by 2030.
