Latest news with #NationalEnergyandClimatePlan
Yahoo
06-05-2025
- Business
- Yahoo
World Bank's loan to support Bosnia and Herzegovina's energy transition
The World Bank has approved a substantial financial package to bolster Bosnia and Herzegovina's energy security and economic transition. On 1 May, the Board of Executive Directors sanctioned a €79.90m loan and a €2.89m grant to advance the country's National Energy and Climate Plan. This strategic move aims to enhance energy independence, foster job opportunities and strengthen local economies in regions transitioning away from coal. The Just Transition in Select Coal Regions of Bosnia and Herzegovina Project is set to repurpose post-mining lands in Banovići, Zenica and Kreka. This includes facilitating the closure of underground works in Zenica and installing renewable energy systems at Banovići and Kreka mines. Additionally, the project will offer social protection and skills development programmes for workers and communities transitioning from the coal sector. World Bank Country Manager for Bosnia and Herzegovina and Montenegro Christopher Sheldon said: 'This new project is an opportunity to boost Bosnia and Herzegovina's energy security while supporting communities, making sure no one is left behind.' Bosnia and Herzegovina is committed to reducing greenhouse gas emissions and decarbonising its power sector by 2050. The World Bank's support aims to ensure that mine closures are managed in an environmentally and socially responsible manner, while simultaneously creating new job opportunities and invigorating local economies in the former coal regions. In a related development, the World Bank and the African Development Bank unveiled terms in January this year for African countries to access $40bn in power finance through the Mission 300 programme. This initiative aims to connect half of the continent's population to the national grid and the other half through off-network solutions like solar mini-grids. The programme promises $30bn from the banks, with an additional $10bn anticipated from private institutions, marking a significant step in addressing varied electricity access across sub-Saharan Africa. "World Bank's loan to support Bosnia and Herzegovina's energy transition" was originally created and published by Power Technology, a GlobalData owned brand.
Trade Arabia
04-05-2025
- Business
- Trade Arabia
Masdar completes acquisition of Greece's largest renewables firm
Masdar, the UAE's clean energy leader, has announced its subsidiary Terna Energy has completed its delisting from the Athens Stock Exchange, following Masdar's acquisition of 100 per cent of the company's stock last month, reported WAM. 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 organisation. They 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 Europe. Al Jaber 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.' 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 expertise. Al Ramahi 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.' Peristeris 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 region. 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 per cent 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 (3.6 billion)– 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 last month.
Zawya
03-05-2025
- Business
- Zawya
Masdar drives new era of growth for Terna Energy as Greece's largest renewables company delists from ATHEX
Acquisition demonstrates Masdar's commitment to accelerating renewable energy growth in Greece and Eastern Europe TERNA ENERGY to play key role in enhancing Masdar's portfolio in Europe, targeting an operational portfolio capacity of 6GW by 2030 ABU DHABI, UAE & ATHENS, GREECE – Abu Dhabi Future Energy Company PJSC – Masdar, the UAE's clean energy leader, announced today 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 His Excellency Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Masdar Chairman, together with Chief Executive Officer Mohamed Jameel Al Ramahi, toured TERNA ENERGY's Athens headquarters and met employees from across the organization. They held strategic discussions with TERNA ENERGY Executive Chairman Georgios Peristeris, the first since the acquisition, centered on Masdar's strategy to expand the business and accelerate renewable energy growth in Southeastern and Central Europe. H.E. Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Masdar Chairman, 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.' 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 expertise. Mohamed Jameel Al Ramahi, Masdar CEO, said: 'With TERNA ENERGY now delisted from the Athens Stock Exchange, we can maximize 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 region. 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 last month. 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 - 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.
Gulf Today
02-05-2025
- Business
- Gulf Today
Masdar completes acquisition of Greece's firm Terna Energy
Abu Dhabi Future Energy Company (Masdar), the UAE's clean energy leader, announced on Friday its subsidiary Terna Energy has completed its delisting from the Athens Stock Exchange, following Masdar's acquisition of 100 per cent 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 organisation. They 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 Europe. Dr 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.' 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 expertise. Mohamed 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 region. 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 per cent 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 last month. In March, Masdar announced an agreement with Endesa S.A. to acquire a 49.99 per cent stake in four solar plants in Spain, with a total capacity of 446 megawatts (MW). The transaction, which is subject to regulatory approvals and other conditions, would see Masdar invest Dhs702 million (€184 million) for the stake in the assets, which have an enterprise value of Dhs1.4 billion (€368 million). These operating assets mark a significant milestone in Masdar's continued growth in the Iberian Peninsula and across Europe, and further its commitment to advancing the region's renewable energy ambitions. The proposed acquisition follows last year's agreement between Masdar and Endesa to partner in a portfolio of over 2GW of solar assets, with the potential to add 0.5GW of battery storage, in one of Spain's biggest renewable energy transactions in recent years. Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said: 'This acquisition further reflects Masdar's commitment to supporting Europe's decarbonisation goals and advancing the global energy transformation. It also marks another significant step in our strategic expansion in the Iberian Peninsula and Europe, adding to our growing portfolio on the continent. Strengthening our partnership with Endesa positions us to unlock new renewable energy opportunities across Europe and beyond, while driving sustainable growth and boosting prosperity.' WAM
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.
