Masdar, the UAE’s leading clean energy company, has acquired 70% of the outstanding shares of TERNA ENERGY SA from GEK TERNA SA and other shareholders. The deal, worth 3.2 billion euros, is the largest energy transaction on the Athens Stock Exchange. Masdar’s acquisition at 20 euros per share marks a crucial step in expanding its renewable energy footprint.
Following the completion of this transaction, Masdar will seek regulatory approval from the Hellenic Capital Markets Commission (HCNC) for a mandatory tender offer (MTO) to acquire the remaining shares of TERNA ENERGY.
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Masdar’s Vision for TERNA ENERGY’s Future
Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar said, “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.
He added, “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. I look forward to working with Executive Chairman, Georgios Peristeris, and Chief Executive Officer, Emmanuel Maragoudakis, in support of the energy transition in Greece and Europe.
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With over 20 years of experience, TERNA ENERGY leads renewable energy, managing projects across Greece, Bulgaria, and Poland. Its portfolio spans wind, solar, biomass, and hydro technologies. The company is also developing Europe’s 680 MW Amfilochia pumped hydro project, reinforcing its position in the sector.
TERNA ENERGY operates 1.2GW of renewable capacity, aiming for 6GW by 2029, supporting Masdar’s 100GW global renewable goal.