TERNA ENERGY, now owned by Abu Dhabi Future Energy Company (Masdar), the UAE’s clean energy leader, has completed its delisting from the Athens Stock Exchange.
The announcement was made during the visit of a Masdar delegation, led by HE Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Masdar Chairman, and CEO Mohamed Jameel Al Ramahi, to TERNA ENERGY’s headquarters.
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.
Dr. Sultan bin Ahmed Al Jaber UAE Minister of Industry & Advanced Technology, MD and Group CEO – ADNOC, Chairman – Masdar
“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 last month, Masdar is simultaneously supporting 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 that, “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.”
Image Via: Masdar@LinkedIn | Cropped by GBN
Georgios Peristeris stated that, “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 a combined capacity of 250MW. These plants are due to be operational within the next two years.
