- UAE’s Masdar finalises full acquisition of Terna Energy, strengthening its renewable energy presence in Europe.
- The deal aligns with Masdar’s ambition to boost its renewable capacity to 100 gigawatts by 2030, targeting global expansion.
Masdar, the UAE-based renewable energy company, announced on Thursday, April 10, 2025, that it has fully acquired Greece’s Terna Energy following a majority stake purchase last year. This acquisition marks a significant milestone in Masdar’s strategy to expand its footprint in global renewable energy markets, particularly in Europe.
Masdar acquired a 70% stake in Terna Energy in November 2024, paying 20 euros per share in a deal valued at 3.2 billion euros ($3.52 billion). This purchase valued Terna Energy at 2.4 billion euros ($2.63 billion). The company subsequently acquired the remaining shares through a mandatory tender offer and squeeze-out of minority shareholders, solidifying its control over the Greek firm.
CEO Mohamed Jameel Al Ramahi highlighted that the acquisition reflects Masdar’s commitment to driving the energy transformation in Greece and Europe. He noted that the company is keen on capitalising on the growing opportunities within the renewable energy sector, particularly in light of challenges such as rising interest rates and increasing debt costs.
Masdar’s acquisition of Terna Energy is part of its broader expansion strategy, which includes plans to grow in Asia and the United States. The company aims to significantly increase its renewable energy capacity, targeting 100 gigawatts by 2030, doubling its current capacity of about 51 gigawatts.
Headquartered in Abu Dhabi, Masdar is controlled by key stakeholders, including the power and water company TAQA, oil giant ADNOC, and the sovereign wealth fund Mubadala Investment Company.
The deal also marks the start of TERNA ENERGY’s delisting from the Athens Stock Exchange following approval from the Hellenic Capital Market Commission. This acquisition is expected to strengthen Masdar’s position as a major player in the global renewable energy market.