BAKU, Azerbaijan, April 10. Masdar has successfully completed the mandatory tender offer (MTO) for the remaining 30 percent of TERNA ENERGY, securing 100 percent ownership of the Greek clean energy company, Trend reports.
The move follows Masdar’s initial acquisition of a 70 percent stake in TERNA ENERGY in November 2024. The transaction was valued at 3.2 billion euros, making it one of the largest energy deals on the Athens Stock Exchange.
TERNA ENERGY, a leader in renewable energy in Southeastern and Central Europe, holds a diversified portfolio in Greece, Bulgaria, and Poland, with projects across wind, solar, biomass, and hydroelectric power. Its largest ongoing project is the 680 MW Amfilochia pumped hydro project in Greece.
With full ownership, Masdar plans to integrate TERNA ENERGY into its operations, bolstering its renewable energy capabilities in Europe. The acquisition aligns with Masdar’s target of achieving a 100 GW global clean energy capacity by 2030 and supports the EU’s goal of net zero emissions by 2050.
The deal also marks the start of TERNA ENERGY’s delisting from the Athens Stock Exchange, following approval from the Hellenic Capital Market Commission. Masdar’s CEO, Mohamed Jameel Al Ramahi, emphasized that this acquisition would accelerate renewable energy development in Greece and Europe, positioning TERNA ENERGY as a key platform for the company’s growth in the region.