Masdar to buy 67% stake in Greece’s TERNA ENERGY

This will support the UAE-based firm’s goal to reach 100 GW of capacity by 2030.

United Arab Emirates-based energy firm Masdar entered a $3.4b (EUR3.2b) definitive agreement with GEK TERNA SA to initially acquire a 67% stake in Greece’s TERNA ENERGY.

In a statement, Masdar said the proposed acquisition will support its expanding portfolio in Europe as it aims to reach 100 gigawatts (GW) of global capacity by 2030.

Upon the completion of the transaction, Masdar will launch an all-cash mandatory tender to acquire TERNA ENERGY’s remaining outstanding shares.

“We look forward to completing the transaction and starting to work with TERNA ENERGY’s leadership team to supercharge their ambitious growth plans in support of Greece’s energy transition,” Masdar CEO Mohamed Jameel Al Ramahi said.

TERNA ENERGY is the largest renewable energy investor in Greece with a target to reach a renewable operational capacity of 6 GW.

Follow the link for more news on

Masdar

Also Read

AMPIN Energy Transition achieves financial closure for 200MWp Rajasthan project

India’s solar scheme installs 385,000 units in first six months

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit