Masdar delists Terna Energy to spur European expansion

Abu Dhabi’s Masdar said its Greek clean energy subsidiary Terna Energy has been delisted from the Athens stock exchange.

The UAE renewables major completed the acquisition of 100 percent of Terna Energy last month to accelerate renewable energy growth in southeastern and central Europe, the UAE state-run Wam news agency reported.

Sultan Al Jaber, chairman of Masdar, said the acquisition strengthens the company’s position in Greece and the wider region, enabling it to expedite the growth of renewable energy solutions.

The acquisition will support Greece’s national energy and climate plan, and advance its global target of achieving 100 gigawatts (GW) of clean energy capacity by 2030.

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Terna Energy targets an operational portfolio capacity of 6GW by 2030 and will be supported by Masdar’s long-term capital.

In November 2024, Masdar acquired 70 percent of Terna Energy from GEK Terna SA and other shareholders in a deal that gave the company an enterprise value of €3.2 billion ($3.6 billion).

Last month, Masdar paid €20 per share to acquire the remaining 30 percent stake.