In a landmark move underscoring its commitment to sustainable energy, Abu Dhabi-based Masdar has successfully acquired Greece’s TERNA ENERGY. This strategic acquisition aligns with Masdar’s ambitious goal of expanding its renewable energy capacity to 100 gigawatts (GW) by 2030, reinforcing its position as a global leader in the clean energy sector.
A Landmark Deal in Renewable Energy
The acquisition, valued at €3.2 billion, represents the largest energy transaction ever on the Athens Stock Exchange and stands as one of the most significant in the European renewable energy market. Initially, Masdar secured 70% of TERNA ENERGY’s outstanding shares at €20 per share. Following this, Masdar launched an all-cash mandatory tender offer to acquire the remaining shares, solidifying its majority stake in the Greek renewable energy company.
Strengthening Greece’s Renewable Energy Landscape
TERNA ENERGY has been a pivotal player in Greece’s renewable energy sector for over two decades, boasting a diversified portfolio that includes wind, solar, biomass, and hydroelectric projects. The company’s current operational capacity stands at 1.2 GW, with ambitious plans to expand to 6 GW by 2029. This growth trajectory is set to significantly contribute to Greece’s National Energy and Climate Plan, aiming for a cleaner and more sustainable energy future.
Masdar’s Vision for Global Expansion
Masdar’s acquisition of TERNA ENERGY is a strategic step toward achieving its target of 100 GW global renewable energy capacity by 2030. This move not only enhances Masdar’s presence in the European market but also complements its existing projects across the Middle East, Asia, and the United States. The integration of TERNA ENERGY’s assets and expertise is expected to accelerate Masdar’s efforts in supporting the global energy transition.
Leadership Perspectives on the Acquisition
Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, expressed enthusiasm about the acquisition, stating, “Masdar is proud to become the majority shareholder of TERNA ENERGY, bringing together two energy champions. Our committed vision and long-term capital will unlock significant opportunities for further growth in TERNA ENERGY’s expansion as it executes on its strategy to support Greece’s renewable energy goals.”
Georgios Peristeris, Chairman and CEO of GEK TERNA, and Executive Chairman of TERNA ENERGY, echoed this sentiment: “Our agreement with Masdar is a reflection of TERNA ENERGY’s unparalleled leading role in the green energy transition in Greece as well as in southeastern Europe. Sharing the same vision with Masdar for clean, affordable, and domestically produced energy, we look forward to working together towards a future of endless growth possibilities for TERNA ENERGY.”
Implications for the Renewable Energy Sector
This acquisition is indicative of a broader trend where major energy companies are investing heavily in renewable assets to meet global sustainability goals. Masdar’s proactive approach in expanding its renewable portfolio reflects the increasing importance of clean energy in the global energy mix. The collaboration between Masdar and TERNA ENERGY is expected to set a precedent for future partnerships aimed at accelerating the transition to renewable energy.
Future Outlook
With the successful acquisition of TERNA ENERGY, Masdar is well-positioned to play a significant role in the global renewable energy landscape. The company’s strategic investments and partnerships are aligned with its vision of a sustainable future powered by clean energy. As Masdar continues to expand its footprint, it remains committed to supporting the energy transition and contributing to global efforts to combat climate change.
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