Masdar completes takeover of Terna Energy in Greece

Greece

ABU DHABI, April 11, 2025 – Masdar has completed an all-cash mandatory tender offer to fully acquire Greek renewable energy company Terna Energy after buying a majority stake last year, Masdar announced on Thursday.

After taking a 70% stake in Terna Energy in December 2024 at EUR 20 per share in a deal that valued the company at EUR 3.2 billion, Masdar has acquired the remaining 30%, also at EUR 20 per share. Upon completion of the transaction, Terna’s shares will be delisted from the Athens Stock Exchange.

Terna owns and operates clean energy projects across wind, solar, biomass and hydro technologies in Greece, Bulgaria and Poland for a total installed capacity of 1.2 GW. The company is in the process of building one of the largest pumped hydro projects in Europe, the 680-MW Amfilochia project at a projected investment of more than EUR 600 million.

“With full ownership, we can fully integrate Terna Energy into our global operations and accelerate the implementation of our shared vision for renewable energy development in Greece and across wider Europe, establishing Terna Energy as our flagship platform in the region,” said Mohamed Al Ramahi, CEO of Masdar.

Masdar will retain Terna Energy’s executive chairman, Georgios Peristeris, and other members of the company’s senior management team following the acquisition.