Masdar has completed the acquisition of 100% of TERNA ENERGY, following the conclusion of a mandatory tender offer and squeeze-out process. The transaction was finalized at €20 per share for the remaining 30%, giving Masdar full control of the Greek renewable energy company.

This marks Masdar’s largest investment in Europe to date and follows its initial 70% stake acquisition in November 2024. That deal valued TERNA ENERGY at €3.2 billion, making it the biggest energy transaction on the Athens Stock Exchange at the time.

The acquisition supports Masdar’s target of reaching 100GW of global clean energy capacity by 2030. TERNA ENERGY, a long-established player in the region, brings a diverse renewable portfolio including wind, solar, hydro, and biomass. Its operations span Greece, Poland, and Bulgaria, with over 1,200MW of installed capacity and nearly 200MW of solar projects under construction.

The company is also developing one of Europe’s largest pumped hydro projects — the 680MW Amfilochia project in Greece.

Mohamed Jameel Al Ramahi, CEO of Masdar, said the move allows full integration of TERNA ENERGY into Masdar’s operations and strengthens its position in the region. Georgios Peristeris, Executive Chairman of TERNA ENERGY, will continue in his current leadership role.

The delisting of TERNA ENERGY from the Athens Stock Exchange is expected to follow, pending regulatory approval.