Masdar Acquires 70% of TERNA ENERGY
An important turning point in the renewable energy industry has been reached with the successful acquisition of 70% of TERNA ENERGY’s outstanding shares by Masdar, the UAE’s leader in clean energy. Masdar now owns the majority of TERNA ENERGY, a significant participant in the Greek renewable energy sector, as a result of this transaction. At €3.2 billion, the sale is the biggest energy transaction in the Athens Stock Exchange’s history and a significant agreement in the EU renewables industry.
Requested Regulatory Approvals for Complete Ownership
Masdar is to undertake an all-cash mandatory tender offer (MTO) for the remaining shares of TERNA ENERGY after the purchase, pending regulatory approval from the Hellenic Capital Markets Commission (HCNC). This action demonstrates Masdar’s strategic intention to increase its ownership and spur additional growth.
The Innovative Role of Terra Energy in Renewable Energy
A pioneer in the field of renewable energy in Greece, TERNA ENERGY has amassed a sizable portfolio of wind, solar, biomass, and hydro technologies. The business is also working on the 680MW Amfilochia project, one of the biggest pumped hydro projects in Europe. In line with Greece’s objectives for renewable energy, TERNA ENERGY plans to increase its operational capacity from its present 1.2GW to 6GW by 2029.
Masdar’s Objectives for International Growth
The strategic expansion of Masdar throughout Europe is significantly impacted by the acquisition of TERNA ENERGY. By 2030, the corporation hopes to have 100GW of renewable energy capacity worldwide, with Greece and Eastern Europe serving as important growth areas.
Leadership Cooperation to Promote Development
Mohamed Jameel Al Ramahi, CEO of Masdar, underlined the importance of this collaboration and the possibility for TERNA ENERGY to expand under Masdar’s direction. “Masdar invests not only in assets but also in creating platforms run by outstanding teams,” he said. We want to accomplish our ambitious worldwide renewable energy targets and further Greece’s energy transformation in partnership with TERNA ENERGY.
A Common Goal for Clean Energy
Citing Masdar’s dedication to clean and inexpensive energy, TERNA ENERGY Executive Chairman Georgios Peristeris voiced confidence about the collaboration. “This collaboration opens the door to endless growth possibilities and reflects our shared vision for a sustainable energy future,” he said.
Professional Teams Close the Deal
Masdar was advised by Rothschild & Co. as sole financial advisor and supported by Simmons & Simmons, Bernitsas Law, and Latham & Watkins for legal matters. GEK TERNA Group relied on Reed Smith LLP and Potamitis Vekris as legal advisors, with Morgan Stanley acting as the financial advisor for TERNA ENERGY.
