Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy powerhouse, has officially announced that its subsidiary, TERNA ENERGY, is no longer listed on the Athens Stock Exchange. This move finalizes the process that began when Masdar acquired full ownership of the company last month.
A high-profile delegation, led by His Excellency Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Masdar Chairman, along with Chief Executive Officer Mohamed Jameel Al Ramahi, visited TERNA ENERGY’s Athens headquarters. They met with employees and held strategic discussions with TERNA ENERGY Executive Chairman Georgios Peristeris, focusing on Masdar’s plan to expand the business and accelerate renewable energy growth in Southeastern and Central Europe.
H.E. Dr. Sultan Al Jaber emphasized that acquiring TERNA ENERGY significantly boosts Masdar’s presence in Greece and the broader region. This move is set to accelerate renewable energy growth, support global clean energy goals, and reaffirm the UAE and Masdar’s commitment to delivering affordable and sustainable energy.
With this acquisition, Masdar aims to contribute to Greece’s National Energy and Climate Plan, support the EU’s goal of achieving net-zero emissions by 2050, and progress toward its own ambitious target of 100 GW of clean energy capacity by 2030. TERNA ENERGY is targeting 6 GW of operational capacity by 2030, backed by Masdar’s capital and global expertise.
Masdar CEO Mohamed Jameel Al Ramahi noted that TERNA ENERGY’s delisting will enable the combined teams to fast-track clean energy projects in Greece and the region. TERNA ENERGY will serve as Masdar’s flagship platform to support renewable goals and energy transformation in Europe.
GEK TERNA Chairman Georgios Peristeris highlighted that the integration with Masdar strengthens TERNA ENERGY’s growth potential and leadership in renewable energy across Greece and the wider region.
The delisting from ATHEX follows a productive first quarter for TERNA ENERGY. The company has continued construction on key projects in Greece and Bulgaria, including the Amphilochia plant, one of the largest pumped storage hydropower projects in Europe, and Masdar’s first pumped hydro project in the region.
Additionally, the business has reached final investment decisions on new solar, wind, and battery projects with a combined capacity of 250 MW. These plants are expected to be operational within the next two years, further solidifying TERNA ENERGY’s position in the renewable energy market.
Masdar initially acquired 70% of TERNA ENERGY in November 2024 in a €3.2 billion deal—the largest energy transaction on the Athens Stock Exchange and among the biggest in EU renewables. It completed the purchase of the remaining 30% through an all-cash tender offer at €20 per share last month, marking a significant milestone in Masdar’s expansion strategy.
This acquisition underscores Masdar’s commitment to driving the global energy transition and solidifying its position as a leading player in the renewable energy sector. By leveraging TERNA ENERGY’s expertise and resources, Masdar is well-positioned to accelerate the deployment of clean energy solutions across Europe, contributing to a more sustainable future.
