Latest news with #AbuDhabiFutureEnergyCompany
Arabian Post
16-05-2025
- Business
- Arabian Post
Masdar Secures $1 Billion to Advance Global Renewable Projects
Abu Dhabi Future Energy Company PJSC – Masdar has successfully raised $1 billion through its latest green bond issuance, marking a significant step in its commitment to expanding renewable energy initiatives globally. The issuance, structured in two equal tranches of $500 million with maturities of five and ten years, attracted substantial investor interest, culminating in an order book that peaked at $4.6 billion, reflecting an oversubscription rate of 4.6 times. The bond's allocation saw a distribution of 70% to international investors and 30% to those in the Middle East and North Africa region. The five-year tranche was priced with a coupon of 4.875%, while the ten-year tranche carried a coupon of 5.25%. These rates underscore Masdar's strong credit standing, with the company's green finance framework receiving the highest possible rating of SQS-1 from Moody's. Proceeds from this issuance are earmarked for investment in new greenfield renewable energy projects, particularly in developing economies. This aligns with Masdar's strategic objective to achieve a renewable energy portfolio capacity of 100 gigawatts by 2030. The company has been instrumental in advancing clean energy solutions, with projects spanning over 40 countries. Masdar's Chief Executive Officer, Mohamed Jameel Al Ramahi, emphasized the significance of this financial milestone, stating that the successful bond issuance underscores investor confidence in Masdar's financial robustness and sustainability credentials. He highlighted that the funds will be pivotal in advancing the company's ambitious portfolio of renewable energy projects, further cementing its role in supporting an equitable energy transition by increasing energy access in emerging markets and the Global South. See also Dubai to Convene Global Leaders for Green Economy Talks Chief Financial Officer Mazin Khan reiterated the company's commitment to transparency and impact, noting that Masdar is raising green bonds and other green finance instruments to invest in new dark green projects. He emphasized that this approach is not only a key component of Masdar's investor relations strategy but also a commitment that the company is transparently fulfilling through the publication of audited annual allocation and impact reporting. This bond issuance follows Masdar's inaugural green bond offering in 2023, which raised $750 million and was oversubscribed by 5.6 times. The proceeds from the initial bond have been allocated to projects expected to mitigate 5.4 million tonnes of greenhouse gas emissions annually upon full operation. Masdar's ongoing efforts in green finance are part of a broader strategy to mobilize up to $3 billion through green bonds to support its renewable energy expansion goals. The company's initiatives are in line with global efforts to accelerate the transition to sustainable energy sources and address climate change challenges. ____________________________________
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Arabian Post
03-05-2025
- Business
- Arabian Post
Masdar Finalises Full Acquisition of TERNA ENERGY, Signalling Major Expansion in European Renewables
Abu Dhabi Future Energy Company PJSC – Masdar has completed its acquisition of 100% of TERNA ENERGY, Greece's leading renewable energy firm, marking a significant milestone in its European growth strategy. The transaction, valued at €3.2 billion in enterprise terms, stands as the largest energy deal in the history of the Athens Stock Exchange and among the most substantial in the European renewables sector. The process began with Masdar securing a 70% stake in TERNA ENERGY in November 2024, following regulatory approvals. Subsequently, the company initiated a mandatory tender offer and completed a squeeze-out process to acquire the remaining shares, finalising the full ownership. This acquisition aligns with Masdar's ambition to achieve a global renewable energy capacity of 100 gigawatts by 2030. TERNA ENERGY, established in 1997, has been a pivotal player in Greece's renewable energy landscape, operating a diversified portfolio that includes wind, solar, hydroelectric, and biomass projects. The company currently manages 1.2 gigawatts of operational capacity and is developing the 680-megawatt Amfilochia pumped hydro project, one of Europe's largest energy storage initiatives. TERNA ENERGY aims to expand its operational capacity to 6 gigawatts by 2029. The acquisition is expected to bolster Masdar's presence in Southeastern and Central Europe, regions identified as key markets for renewable energy growth. Masdar's leadership, including Chairman Dr. Sultan bin Ahmed Al Jaber and CEO Mohamed Jameel Al Ramahi, visited TERNA ENERGY's headquarters in Athens to discuss strategic plans with Executive Chairman Georgios Peristeris. The discussions focused on accelerating renewable energy projects and exploring new opportunities in the region. See also OPEC+ Shifts Strategy with Unexpected Oil Output Increase Masdar's expansion in Europe is part of a broader strategy to invest in renewable energy assets globally. The company has also acquired a 49.99% stake in 48 solar plants in Spain, amounting to 2 gigawatts of capacity, and is exploring further investments in Portugal and other European countries. These moves are indicative of Masdar's commitment to supporting the global energy transition and contributing to the European Union's net-zero emissions targets by 2050.
Al Etihad
02-05-2025
- Business
- Al Etihad
UAE, Greece discuss advancing Comprehensive Strategic Partnership
2 May 2025 19:30 ATHENS (WAM)Dr. Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Managing Director and Group CEO of the Abu Dhabi National Oil Company (ADNOC), conducted an official visit to Greece, joined by senior government officials and representatives from leading UAE delegation included ADNOC, Abu Dhabi Future Energy Company (Masdar), ADQ, Mubadala Investment Company, EDGE Group, PureHealth, MGX, 2PointZero, and visit focused on advancing the Comprehensive Strategic Partnership between the UAE and Greece, which was signed in November 2020 in the presence of UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan, and on building upon the outcomes of Prime Minister Kyriakos Mitsotakis's visit to the UAE in February also included a review of progress under the UAE-Greece Joint Investment Fund, which was announced in May 2022 with a total value of 4 billion Sultan Al Jaber met with Prime Minister Kyriakos Mitsotakis, and conveyed the greetings and best wishes of the UAE leadership to the government and people of Greece. He reaffirmed the UAE's commitment to strengthening bilateral cooperation, and expanding it to new strategic areas of mutual Al Jaber also met with Kostis Hatzidakis, Deputy Prime Minister of Greece. The two sides discussed the ongoing implementation of the Comprehensive Strategic Partnership, including a number of issues of mutual interest. They also explored ways to deepen economic cooperation, expand investment, and advance ongoing joint Al Jaber also met with Nikos Dendias, Minister for National Defence, to explore opportunities for enhanced cooperation in advanced industries and manufacturing. The discussions covered potential partnerships in defence-related technologies and platforms, as well as the exchange of expertise and best announcement was also made during the visit, confirming the two countries' agreement to continue implementing the existing UAE-Greece double taxation agreement, and underscoring their shared commitment to a stable investment climate and deeper economic visit also featured a dedicated strategic dialogue, titled 'Forging the Next Chapter of Economic Partnership', which was attended by representatives from UAE and Greek public and private sector entities. The session highlighted opportunities for collaboration across key sectors, including energy, renewable energy, industry, advanced technology, infrastructure, and data Sultan Al Jaber also visited the headquarters of TERNA Energy, recently acquired by Abu Dhabi Future Energy Company (Masdar), as part of his visit to Athens. He met with Georgios Peristeris, Executive Chairman of TERNA Energy, and other senior executives, to review the company's strategic plans, and its efforts to expand renewable energy projects across Southeastern and Central Europe. The visit also included a tour of key facilities to observe the technologies and operational systems supporting TERNA's clean energy UAE delegation included Dr. Ali Al Dhaheri, UAE Ambassador to Greece; Badr Jafar, Special Envoy of the Minister of Foreign Affairs for Business and Philanthropy; Hamad Al Hammadi, Executive Director at ADQ; Mohamed Al Ramahi, CEO of Masdar; Meera Al Suwaidi, Head of Sovereign Partnerships at Mubadala; Thomas Pramotedham, CEO of Presight; Mohamed Zafar, CEO of 2PointZero; and Farhan Malik, Founder and Managing Director of PureHealth, in addition to representatives from several other UAE total value of non-oil trade between the UAE and Greece reached Dh2.22 billion in 2024, representing a 6 percent year-on-year increase driven by a 26.3 percent rise in imports. In the first quarter of 2025, trade between the two countries grew by over 40 percent compared to the same period the previous year, supported by a more than 140 percent increase in exports, a 46 percent increase in re-exports, and a 26 percent rise in imports. Over the past five years, non-oil trade between the UAE and Greece has grown by 80 percent, with significant increases in exports by 72 percent and imports by 84 percent. This sustained growth, at an average annual rate of 16 percent, underscores the strength and long-term potential of bilateral trade relations.
Arabian Business
11-04-2025
- Business
- Arabian Business
Abu Dhabi's Masdar concludes 100% acquisition of Terna Energy
Abu Dhabi Future Energy Company (Masdar) has successfully completed the 100 per cent acquisition of Terna Energy. Masdar acquired 70 per cent of Terna Energy from GEK Terna SA and other shareholders in November last year for an enterprise value of 3.2 billion euros ($3.56 billion). It has now completed an all-cash mandatory tender offer (MTO) and squeeze-out process for the remaining 30 per cent shares of the company at a price of 20 euros ($22.24) per share. Masdar finalises Terna takeover Terna Energy has been a key player in the renewable energy sector in Southeastern and Central Europe for over two and a half decades. It holds the largest and most diversified portfolio in Greece, as well as projects in Bulgaria and Poland. It owns and operates clean energy projects across wind, solar, biomass and hydro technologies – and is building one of the largest pumped hydro projects in Europe, the 680MW Amfilochia project. It has a total installed capacity of 1,224 MW in Greece and abroad, is currently constructing 197 MW of photovoltaic (PV) projects in Greece and Bulgaria. Masdar will now initiate the process of delisting the company from the Athens Stock Exchange. The transaction is expected to provide significant capital investment in Greece and wider Europe, supporting the company's contribution to Greece's National Energy and Climate Plan (NECP) and the EU's net zero by 2050 target. Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, commented: 'With full ownership of all shares, we can fully integrate Terna Energy into our global operations and accelerate the implementation of our shared vision for renewable energy development in Greece and across wider Europe, establishing it as our flagship platform in the region. 'Masdar's long-term capital and global expertise will supercharge Terna Energy, as we target a global clean energy portfolio capacity of 100GW by 2030. This acquisition underscores Masdar's commitment to driving the energy transformation in Greece and other European countries.' The company's Executive Chairman, Georgios Peristeris, and other members of the senior management team will continue in their current leadership roles. Peristeris said: 'The successful completion of Terna Energy's acquisition by Masdar marks the full integration of the two companies. Our shared commitment to clean, affordable, and domestically produced energy creates a powerful foundation for accelerated growth. 'As part of Masdar's global family, Terna Energy is well-positioned to expand its leadership in the renewable energy sector in Greece and the wider region.' The acquisition demonstrates the scale and ambition of Masdar's growth plans in the region, and further solidifies the Abu Dhabi-based clean energy company's role as a trusted global energy transition partner to governments, investors, developers and communities across the globe.
Al Etihad
09-04-2025
- Business
- Al Etihad
Masdar's assets up by 228% in 2024 to Dh59.79 billion
9 Apr 2025 14:50 REDDY (ABU DHABI)Abu Dhabi Future Energy Company (Masdar) reported a major expansion in its financial position for the year ended December 31, 2024, with total assets rising to Dh59.79 billion, a 228% increase from Dh18.25 billion in to the company's audited consolidated financial statements posted on its website, the company delivered a strong return to profitability, posting a net profit of Dh412 million, compared to a loss of Dh45 million in the previous for 2024 totalled Dh3.42 billion, representing a slight decline of 3.8% from Dh3.56 billion in liabilities climbed to Dh30.78 billion, a 265% increase from Dh8.44 billion at the end of 2023, in line with the company's expansion efforts. Meanwhile, total equity attributable to the equity holders of the Group surged to Dh29.01 billion, up 196% from Dh9.81 billion a year earlier. Masdar's 2024 performance reflects the company's accelerating momentum in the clean energy sector and its continued investment in sustainable infrastructure worldwide.
