Following the acquisition of 100% of the company’s shares by Masdar last month and its delisting from the Athens Stock Exchange (ATHEX), TERNA Energy’s integration into Abu Dhabi Future Energy Company PJSC-Masdar, a company with a leading position in clean energy in the United Arab Emirates, was completed.
In this context, led by His Excellency Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology of the UAE and Chairman of Masdar and also present by the CEO Mohamed Jameel Al Ramahi, a delegation of the parent company visited the headquarters of TERNA ENERGY in Athens, where it met with its executives and employees.
They held strategic discussions with TERNA ENERGY Executive Chairman Georgios Peristeris, the first since the acquisition, centered on Masdar’s strategy to expand the business and accelerate renewable energy growth in Southeastern and Central Europe.
H.E. Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Masdar Chairman, said:
“Bringing TERNA ENERGY into the Masdar family strengthens our position in Greece and the wider region, enabling us to expediate the growth of renewable energy solutions and unlock the investment needed to empower nations to achieve their clean energy targets. This acquisition also demonstrates the commitment of both the UAE and Masdar to bringing affordable, secure and sustainable energy to all.
Through the acquisition, Masdar will simultaneously support Greece’s National Energy and Climate Plan, the EU’s ambition to reach net zero emissions by 2050, and advance its own global target of achieving 100 gigawatts (GW) of clean energy capacity by 2030. TERNA ENERGY is targeting an operational portfolio capacity of 6GW by 2030 and will be supported by Masdar’s long-term capital and global expertise.”
Mohamed Jameel Al Ramahi, Masdar CEO, said:
“With TERNA ENERGY now delisted from the Athens Stock Exchange, we can maximize and leverage the combined expertise and experience of both workforces to accelerate the implementation of clean energy projects in Greece and across the region. By establishing TERNA ENERGY as our flagship platform for the region, we will both support our own renewable energy objectives and drive energy transformation in Europe.”
On his part, Georgios Peristeris, Chairman and CEO of GEK TERNA and Executive Chairman of TERNA ENERGY, said:
“The delisting of TERNA ENERGY following its acquisition by Masdar marks the full integration of the two companies, creating a strong platform for accelerated growth based on their shared commitment to clean, affordable, and domestically produced energy. As part of Masdar’s global network, TERNA ENERGY is now ideally positioned to expand its leadership in the renewable energy sector in Greece and the wider region.
The delisting from ATHEX follows a productive first quarter for TERNA ENERGY, which has seen the continuation of construction on key projects in Greece and Bulgaria, including the Amphilochia plant, one of largest pumped storage hydropower projects in Europe, and Masdar’s first pumped hydro project in the region.
The business has also reached final investment decisions on new solar, wind and battery projects with combined capacity of 250MW. These plants are due to be operational within the next two years.”
