UAE’s Masdar completes purchase of Terna Energy in Greece in major expansion in Europe
UAE’s clean energy champion Masdar said on Thursday that it had fully acquired Terna Energy in Greece after purchasing a major stake in 2024. It marks another step in the company’s international expansion strategy.
Masdar is seeking to capitalise on opportunities in a sector troubled by rising debt costs and high interest rates. This Emirati giant has been gradually increasing its presence in European markets and is also planning to expand into the US.
The acquisition underscores Masdar’s commitment to the energy transformation in Greece and in Europe. The company acquired 70% of Terna late last year at €20 per share, granting Terna an enterprise value of 3.2 billion euros and an equity valuation of 2.4 billion euros.
Headquartered in the UAE capital, Masdar is famous across the globe for its focus on sustainability. Terna Energy has been a major player in the sector for more than 25 years, holding projects in countries like Greece, Bulgaria and Poland.
