UAE-based Masdar has acquired 70% of TERNA ENERGY SA shares from GEK TERNA SA and other shareholders at €20 per share, valuing TERNA ENERGY at €3.2 billion (~$3.5 billion). This is the largest energy transaction in the Athens Stock Exchange’s history. Regulatory approvals are complete, and Masdar plans a mandatory tender offer for the remaining shares, pending Hellenic Capital Markets Commission approval. According to Masdar, this acquisition aligns with its goal to reach 100 GW of global renewable energy capacity by 2030. TERNA ENERGY manages 1.2 GW of wind, solar, biomass, and hydro projects and targets 6 GW by 2029. Key assets include the 680 MW Amfilochia pumped hydro project in Greece. Masdar engaged Rothschild & Co. as financial advisor, while TERNA ENERGY was advised by Morgan Stanley.
TERNA ENERGY joins Masdar’s European renewables portfolio
The €3.2 billion TERNA ENERGY deal is the largest energy transaction in Athens Stock Exchange history. (Image Source: TERNA ENERGY)
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