Latest news with #GeorgiosPeristeris
Al Etihad
02-05-2025
- Business
- Al Etihad
Masdar completes acquisition of Greece's largest renewables company
2 May 2025 16:24 ABU DHABI (ALETIHAD)Abu Dhabi Future Energy Company PJSC – Masdar, the UAE's clean energy leader, announced Friday its subsidiary TERNA ENERGY has completed its delisting from the Athens Stock Exchange, following Masdar's acquisition of 100 percent of the company's stock last month.A delegation led by Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, and Chairman of Masdar, together with Chief Executive Officer Mohamed Jameel Al Ramahi, toured TERNA ENERGY's Athens headquarters and met employees from across the held strategic discussions with TERNA ENERGY Executive Chairman Georgios Peristeris, the first since the acquisition, centred on Masdar's strategy to expand the business and accelerate renewable energy growth in Southeastern and Central Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, and Chairman of Masdar, said, 'Bringing TERNA ENERGY into the Masdar family strengthens our position in Greece and the wider region, enabling us to expediate the growth of renewable energy solutions and unlock the investment needed to empower nations to achieve their clean energy targets. This acquisition also demonstrates the commitment of both the UAE and Masdar to bringing affordable, secure and sustainable energy to all.' (Supplied) Through the acquisition, Masdar will simultaneously support Greece's National Energy and Climate Plan, the EU's ambition to reach net zero emissions by 2050, and advance its own global target of achieving 100 gigawatts (GW) of clean energy capacity by 2030. TERNA ENERGY is targeting an operational portfolio capacity of 6GW by 2030, and will be supported by Masdar's long-term capital and global Jameel Al Ramahi, Masdar CEO, said, 'With TERNA ENERGY now delisted from the Athens Stock Exchange, we can maximise and leverage the combined expertise and experience of both workforces to accelerate the implementation of clean energy projects in Greece and across the region. By establishing TERNA ENERGY as our flagship platform for the region, we will both support our own renewable energy objectives and drive energy transformation in Europe.'Georgios Peristeris, Chairman and CEO of GEK TERNA and Executive Chairman of TERNA ENERGY, said, 'The delisting of TERNA ENERGY following its acquisition by Masdar marks the full integration of the two companies, creating a strong platform for accelerated growth based on their shared commitment to clean, affordable, and domestically produced energy. As part of Masdar's global network, TERNA ENERGY is now ideally positioned to expand its leadership in the renewable energy sector in Greece and the wider region'.The delisting from ATHEX follows a productive first quarter for TERNA ENERGY, which has seen the continuation of construction on key projects in Greece and Bulgaria, including the Amphilochia plant, one of largest pumped storage hydropower projects in Europe, and Masdar's first pumped hydro project in the business has also reached final investment decisions on new solar, wind and battery projects with combined capacity of 250MW. These plants are due to be operational within the next two years. Masdar acquired 70 percent of TERNA ENERGY from GEK TERNA SA and other shareholders in November last year, in a deal that gave the company an enterprise value of 3.2 billion euros – the biggest energy transaction on the Athens Stock Exchange at the time, and one of the largest in the EU renewables industry. An all-cash mandatory tender offer (MTO) and squeeze-out process for the remaining 30 percent of the company, at a price of 20 euros per share, was completed in April.
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
10-04-2025
- Business
- Al Etihad
Masdar completes full acquisition of Greece's TERNA ENERGY
10 Apr 2025 16:44 ABU DHABI (ALETIHAD) Abu Dhabi Future Energy Company (Masdar) announced on Thursday that it completed the acquisition of Greece's TERNA ENERGY, following the successful completion of an all-cash mandatory tender offer for the remaining 30% shares of the company at a price of €20 per this transaction, Masdar now holds 100% ownership of TERNA ENERGY SA, a significant move in expanding its European presence. The UAE-based clean energy leader had previously acquired 70% of TERNA ENERGY in November 2024, valuing the company at €3.2 billion — the largest energy deal on the Athens Stock Exchange and one of the biggest in the EU renewables ENERGY, a key player in Southeastern and Central Europe's renewable energy space for over 25 years, brings to Masdar a highly diversified portfolio that includes wind, solar, biomass, and hydro projects. The company operates 1,224MW of installed capacity, including 102MW in Poland and 30MW in Bulgaria, and is currently developing an additional 197MW of photovoltaic projects. Its flagship development includes the 680MW Amfilochia pumped hydro project, one of the largest in will now initiate the delisting process for TERNA ENERGY shares from the Athens Stock Exchange. Executive Chairman Georgios Peristeris and the senior leadership team will continue to lead TERNA ENERGY through its next phase of growth under Masdar's ownership, a statement said. Source: Aletihad - Abu Dhabi
Trade Arabia
10-04-2025
- Business
- Trade Arabia
Masdar expands in Europe by fully acquiring Terna Energy
Masdar has announced that it holds 100 per cent of Greece's Terna Energy, following the completion of 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 ($22.09) per share. Masdar acquired 70 per cent Of Terna Energy from GEK Terna and other shareholders in November last year, in a deal that gave the company an enterprise value of 3.2 billion euros – the biggest energy transaction on the Athens Stock Exchange at the time, and one of the largest in the EU renewables industry. Terna Energy has been a key player in the renewable energy sector in Southeastern and Central Europe for over two and a half decades, holding the largest and most diversified portfolio in Greece, as well as projects in Bulgaria and Poland and has a solid pipeline of growth opportunities. Greece's renewable energy leader 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. Of the company's total installed capacity of 1,224 MW in Greece and abroad, 102 MW are located in Poland and 30 MW in Bulgaria. Terna Energy continues the development of its portfolio with 197 MW of photovoltaic (PV) projects currently under construction in Greece and Bulgaria. Following the successful completion of the MTO and squeeze-out, Masdar will initiate the process for the company's delisting from the Athens Stock Exchange, subject to regulatory approval from the Hellenic Capital Market Commission. 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. The successful acquisition demonstrates the scale and ambition of Masdar's growth plans in the region, and further solidifies Masdar's role as a trusted global energy transition partner to governments, investors, developers and communities across the globe. The company's Executive Chairman, Georgios Peristeris, and other members of the senior management team are continuing in their current leadership roles, supporting Masdar and Terna Energy in their next phase of growth. Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said: '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 Terna Energy 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.' Georgios Peristeris, Chairman and CEO of GEK Terna and Executive Chairman of Terna Energy, 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.'
Zawya
10-04-2025
- Business
- Zawya
Masdar cements major European expansion with completion of 100% acquisition of TERNA ENERGY
TERNA ENERGY shares will be delisted from the Athens Stock Exchange, following approval from the Hellenic Capital Market Commission Providing significant capital investment in Greece and other EU countries, the acquisition demonstrates Masdar's commitment to accelerating renewable energy growth in Southeastern and Central Europe, unlocking renewable energy capacity and supporting the EU's net zero by 2050 goals TERNA ENERGY to play an important role in enhancing Masdar's portfolio across Europe as it targets 100GW global clean energy capacity by 2030 ABU DHABI, UAE & ATHENS, GREECE: Abu Dhabi Future Energy Company PJSC – Masdar, the UAE's clean energy leader and one of the world's fastest-growing renewable energy companies, announced today that it holds 100 percent of Greece's TERNA ENERGY SA, following the successful completion of an all-cash mandatory tender offer (MTO) and squeeze-out process for the remaining 30 percent shares of the company at a price of 20 euros per share. Masdar acquired 70 percent of TERNA ENERGY from GEK TERNA SA and other shareholders in November last year, in a deal that gave the company an enterprise value of 3.2 billion euros – the biggest energy transaction on the Athens Stock Exchange at the time, and one of the largest in the EU renewables industry. TERNA ENERGY has been a key player in the renewable energy sector in Southeastern and Central Europe for over two and a half decades, holding the largest and most diversified portfolio in Greece, as well as projects in Bulgaria and Poland and has a solid pipeline of growth opportunities. Greece's renewable energy leader 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. Of the company's total installed capacity of 1,224 MW in Greece and abroad, 102 MW are located in Poland and 30 MW in Bulgaria. TERNA ENERGY continues the development of its portfolio with 197 MW of photovoltaic (PV) projects currently under construction in Greece and Bulgaria. Following the successful completion of the MTO and squeeze-out, Masdar will initiate the process for the company's delisting from the Athens Stock Exchange, subject to regulatory approval from the Hellenic Capital Market Commission. 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. The successful acquisition demonstrates the scale and ambition of Masdar's growth plans in the region, and further solidifies Masdar's role as a trusted global energy transition partner to governments, investors, developers and communities across the globe. The company's Executive Chairman, Georgios Peristeris, and other members of the senior management team are continuing in their current leadership roles, supporting Masdar and TERNA ENERGY in their next phase of growth. Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said: '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 TERNA ENERGY 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.' Georgios Peristeris, Chairman and CEO of GEK TERNA and Executive Chairman of TERNA ENERGY, 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.' Masdar has retained Rothschild & Co. as sole financial advisor, and Simmons & Simmons and Bernitsas Law as legal advisors, in connection with the transaction. Contacts: For Masdar media enquiries, please contact: press@ For more information please visit: and connect: and For TERNA ENERGY media enquiries, please contact Dimitris Delevegos - tel: + 30 210 69 68 000, email: pressoffice@ About Masdar Masdar (Abu Dhabi Future Energy Company) is one of the world's fastest-growing renewable energy companies. As a global clean energy leader, Masdar is advancing the development and deployment of solar, wind, geothermal, battery storage and green hydrogen technologies to accelerate the energy transformation and help the world meet its net-zero ambitions. Established in 2006, Masdar has developed and invested in projects in over 40 countries with a combined capacity of 51 gigawatts (GW), providing affordable clean energy access to those who need it most and helping to power a more sustainable future. Masdar is jointly owned by TAQA, ADNOC, and Mubadala, and is targeting a renewable energy portfolio capacity of 100GW by 2030 while aiming to be a leading producer of green hydrogen by the same year. About TERNA ENERGY TERNA ENERGY, a Masdar company, has been a key player in the renewable energy sector for over two and a half decades, holding the largest and most diversified portfolio of projects 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 also building one of the largest pumped hydro projects in Europe, the 680MW Amfilochia project. TERNA ENERGY's installed capacity currently stands at 1224MW, and is continuing seamlessly with its development plan.
