Abu Dhabi Future Energy Company (Masdar) has completed its full acquisition of Terna Energy, securing 100 per cent ownership.
Last November, Masdar acquired a 70 per cent stake in Terna Energy from GEK Terna SA and other shareholders for an enterprise value of €3.2 billion (USD 3.56 billion). It has now finalised the mandatory tender offer and squeeze-out process for the remaining 30 per cent, paying €20 (USD 22.24) per share in an all-cash transaction.
Terna Energy, a prominent name in the renewable energy sector across Southeastern and Central Europe, has built a strong presence over the past 25 years. It boasts Greece’s largest and most diversified portfolio, alongside renewable projects in Bulgaria and Poland.
The company owns and operates clean energy assets spanning wind, solar, biomass and hydroelectric power. It is also developing one of Europe’s largest pumped hydroelectric projects — the 680MW Amfilochia facility. Terna Energy’s current installed capacity totals 1,224MW, with an additional 197MW of solar projects under construction in Greece and Bulgaria.
Masdar intends to begin delisting Terna Energy from the Athens Stock Exchange. The acquisition is expected to drive major investment in Greece and across Europe, furthering Greece’s National Energy and Climate Plan and the EU’s 2050 net-zero goals.
Masdar CEO Mohamed Jameel Al Ramahi stated that full ownership enables greater integration and accelerates the realisation of their joint vision for renewable energy in the region. He affirmed Masdar’s ambition to reach a global 100GW clean energy portfolio by 2030.
Terna Energy’s Executive Chairman, Georgios Peristeris, along with senior leadership, will retain their roles. Peristeris emphasised the strength of their shared mission, positioning Terna Energy for continued growth under Masdar’s global platform.
This acquisition highlights Masdar’s expanding influence and commitment to leading the energy transition across Europe.
