Abu Dhabi, UAE — In a major leap for the renewable energy sector, Masdar, the United Arab Emirates’ leading clean energy company, has successfully completed its full acquisition of Greece’s Terna Energy (TENr.AT). This milestone marks a significant step in Masdar’s international growth strategy and deepens its commitment to transforming the global energy landscape.
After acquiring a 70% majority stake in November 2024 at €20 per share, Masdar has now finalized the purchase of the remaining shares through a mandatory tender offer and squeeze-out procedure, bringing its ownership of Terna Energy to 100%.
🌍 Global Vision Meets European Momentum
The acquisition is valued at an enterprise worth of €3.2 billion ($3.52 billion), with an equity valuation of €2.4 billion, based on the original share price agreement. By fully integrating Terna Energy into its portfolio, Masdar gains strategic control over one of Greece’s largest renewable energy companies, reinforcing its presence in the European market.
“This acquisition underscores our unwavering commitment to the global energy transition, especially in Europe,” said Mohamed Jameel Al Ramahi, CEO of Masdar. “Terna Energy is a strong, visionary partner that aligns with our goal of increasing global renewable energy capacity.”
📈 Masdar’s Ambitious Growth Target: 100GW by 2030
Masdar, officially known as Abu Dhabi Future Energy Company, aims to increase its total renewable energy capacity to 100 gigawatts by 2030—a bold target from its current pipeline of approximately 51 gigawatts at various stages of development.
The integration of Terna’s projects—mainly wind, solar, and hydroelectric assets across Greece and Southeastern Europe—gives Masdar a valuable advantage in scaling up its green energy footprint.
With climate change and energy security taking center stage globally, the acquisition is a strategic win for both parties. Masdar can now harness Terna’s strong regional portfolio and operational capabilities to accelerate the clean energy transition in Europe, a continent facing rising energy demands and climate commitments.
🏛️ Backed by UAE’s Energy Giants
Masdar operates under the leadership and support of the UAE’s most powerful institutions. It is jointly owned by:
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TAQA (Abu Dhabi National Energy Company),
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ADNOC (Abu Dhabi National Oil Company), and
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Mubadala Investment Company, the UAE’s sovereign wealth fund.
This strong backing provides Masdar with not just the capital but also the political and institutional muscle needed for ambitious global projects, including major infrastructure acquisitions like Terna Energy.
📉 Navigating a Challenging Market
Despite high interest rates and increased global debt pressures affecting the renewable sector, Masdar has managed to capitalize on market dynamics. Many energy firms, particularly in Europe, are facing financial strain due to tightening credit and inflation.
Masdar’s acquisition strategy reflects a contrarian yet confident investment philosophy—one that seeks long-term value over short-term market volatility.
“While some see risk, we see opportunity,” Al Ramahi added. “This deal is not just about growth, it’s about resilience and leadership in a changing energy world.”
🇬🇷 What Terna Energy Brings to the Table
Founded in 1997 and headquartered in Athens, Terna Energy is part of the GEK Terna Group, one of Greece’s largest industrial groups. The company is active in renewable electricity production, energy storage, and green infrastructure.
Terna currently operates hundreds of megawatts in wind and solar farms across Greece, and has projects under development in other Southeastern European markets such as Bulgaria, Poland, and Romania.
For Masdar, acquiring Terna is not only about acquiring assets—it’s about acquiring expertise, a network, and access to a fast-developing regional energy market.
🌏 Beyond Europe: Eyes on Asia and the United States
Masdar’s ambitions do not end with Europe. With a presence already in the Middle East, Africa, and now Europe, the company has set its sights on Asia and North America as part of its next expansion phase.
Key target markets include India, Indonesia, Vietnam, and the United States—all of which are undergoing energy transitions of their own and offer massive potential for renewable energy deployment.
The strategic goal is to diversify Masdar’s investment portfolio, minimize geographic risk, and become a truly global leader in clean energy solutions.
💼 IPO on the Horizon?
In a related development, Reuters reported that Masdar is in the early stages of considering an Initial Public Offering (IPO). While no timeline has been confirmed, such a move could unlock billions in capital and allow public investors to participate in one of the fastest-growing renewable energy companies in the world.
Market analysts believe the full acquisition of Terna Energy is a preparatory step that will boost Masdar’s valuation and operational credibility ahead of any potential IPO.
💬 Industry Reaction
The renewable energy sector has reacted positively to the news, calling it a strong signal of confidence amid market uncertainty.
“Masdar’s acquisition of Terna shows there’s still strong momentum and strategic interest in renewables, despite macroeconomic headwinds,” said Eleni Tsakalou, a Greek energy analyst.
“In fact, with this move, Masdar sends a clear message: the green energy transition is not a trend—it’s the future.”
🔍 A Closer Look: Deal Breakdown
| Aspect | Details |
|---|---|
| Acquirer | Masdar (Abu Dhabi Future Energy Co.) |
| Target Company | Terna Energy (TENr.AT) |
| Country | Greece |
| Deal Type | Full Acquisition (100%) |
| Initial Stake Acquired | 70% at €20 per share |
| Total Enterprise Value | €3.2 billion ($3.52 billion) |
| Equity Value | €2.4 billion |
| Remaining Shares | Acquired via tender offer & squeeze-out |
| Strategic Focus | Europe, Asia, United States |
| Future Capacity Target | 100 GW by 2030 |
| Current Project Portfolio | 51 GW under various development stages |
🧠 Conclusion: The Road Ahead
Masdar’s complete acquisition of Terna Energy is more than a corporate transaction—it’s a bold statement of intent. With global climate targets tightening and nations scrambling to secure clean energy sources, companies like Masdar are playing a pivotal role in shaping the world’s energy future.
As the company continues to scale, integrate, and innovate, its blend of strategic foresight, financial strength, and global partnerships puts it in a prime position to lead the clean energy revolution—from the deserts of the UAE to the hills of Greece, and beyond.
