Masdar to take over Terna Energy in deal worth EUR 3.2 billion
- Admin
- Jun 20, 2024
- 1 min read
Energy giant Masdar from the UAE agreed to acquire 67% of Terna Energy, a Greek company, with a plan to reach 100%. The deal values Terna Energy at EUR 3.2 billion. Masdar will keep Terna Energy's current leadership. The agreement signifies Masdar's commitment to clean energy development in Greece and Europe. It also reflects UAE's goal to triple global renewable energy capacity by 2030. Terna Energy focuses on wind, solar, hydroelectric, and pumped storage projects with a growth plan of 6 GW by 2030. Masdar is involved in various renewable energy projects, strategic partnerships in multiple countries including Egypt, Azerbaijan, Romania, Serbia, and France.
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