Masdar buying nearly 70% stake in Greece’s biggest renewable energy investor

Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy leader, has reached a definitive agreement with GEK TERNA SA and other shareholders of TERNA ENERGY SA, with the intention to acquire initially 67% of the company’s outstanding shares at completion of the transaction, subject to regulatory approvals and other conditions, Report informs referring to Masdar website.

After completion of the transaction, Masdar will launch an all-cash mandatory tender offer to acquire all the remaining outstanding shares of the company with the intention of reaching 100%.

The transaction and subsequent offer values TERNA ENERGY’s total equity at 2.4bn euros5 with an enterprise value of 3.2bn euros, making it the largest ever energy transaction on the Athens Stock Exchange, and one of the largest in the European renewables market.

The deal is expected to provide significant capital investment in Greece and other European countries, supporting TERNA ENERGY’s contribution to Greece’s National Energy and Climate Plan (NECP) and the EU’s net zero by 2050 target. The proposed acquisition demonstrates the scale and ambition of Masdar’s growth plans in the region, and further solidifies Masdar’s role as a trusted global energy transition partner to governments, investors, developers and communities across the globe.

Established in 1997, TERNA ENERGY is a leading European clean energy platform, with a track record of more than 25 years of delivering innovative and sustainable projects.

The company specializes in financing, developing, constructing and operating renewable energy facilities, focused on wind, solar, hydroelectric and pumped storage projects.