Masdar completed the acquisition of a 70% stake in Terna Energy from GEK Terna in a €3.2bn deal.

Masdar, an Emirati state-owned renewable energy company, completed the acquisition of a 70% stake in Terna Energy, a Greek renewable energy company, from GEK Terna, a construction company, in a €3.2bn deal. "Masdar is proud to become the majority shareholder of Terna Energy, bringing together two energy champions. Our committed vision and long-term capital will unlock significant opportunities for further growth in Terna Energy's expansion as it executes on its strategy to support Greece's renewable energy goals. Masdar's acquisition strategy has focused on acquiring not just assets, but investing in exceptional teams. Our ambition is to establish Terna Energy as one of our core regional platforms that will help us deliver on our ambitious targets. I look forward to working with Executive Chairman, Georgios Peristeris, and Chief Executive Officer, Emmanuel Maragoudakis, in support of the energy transition in Greece and Europe," Mohamed Jameel Al Ramahi, Masdar CEO.