Masdar Acquires Majority Stake in TERNA ENERGY, Driving EU Renewable Expansion

Abu Dhabi's Masdar finalizes acquisition of 70% of TERNA ENERGY from GEK TERNA, marking a significant milestone in European renewable energy. Valued at 3.2 billion euros, this deal is the largest on the Athens Stock Exchange, highlighting the potential growth and impact on energy transition goals across Europe.

In a landmark move for the renewable energy sector, Abu Dhabi Future Energy Company PJSC, known as Masdar, announced the completion of its acquisition of a majority stake in TERNA ENERGY SA. With this acquisition of 70 percent of shares from GEK TERNA SA and other shareholders, the deal underwent successful regulatory approvals.

The transaction, valued at an impressive 3.2 billion euros at 20 euros per share, represents the most substantial energy deal in the history of the Athens Stock Exchange. Masdar plans to seek additional regulatory clearances in order to launch an all-cash mandatory tender offer to purchase remaining shares in TERNA ENERGY.

TERNA ENERGY, a prominent player in renewable energy, operates diverse projects across wind, solar, biomass, and hydroelectric technologies, boasting a 1.2 gigawatt capacity. Masdar's acquisition aligns with its global ambition to achieve a 100 gigawatt portfolio by 2030, emphasizing collaboration on Greece's long-term renewable goals.

(With inputs from agencies.)