Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy leader, announced that its subsidiary TERNA ENERGY has officially delisted from the Athens Stock Exchange, finalizing the process after Masdar acquired full ownership of the company 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 and Masdar Chairman, stated that acquiring TERNA ENERGY boosts Masdar’s presence in Greece and the region, accelerating renewable energy growth and supporting global clean energy goals, while reaffirming the UAE and Masdar’s commitment to delivering affordable and sustainable energy.
With this acquisition, Masdar will contribute to Greece’s National Energy and Climate Plan, support the EU’s goal of net-zero emissions by 2050, and progress toward its own target of 100 GW of clean energy capacity by 2030. TERNA ENERGY aims to reach 6 GW of operational capacity by 2030, backed by Masdar’s capital and global expertise.
Masdar CEO Mohamed Jameel Al Ramahi stated that TERNA ENERGY’s delisting enables the combined teams to fast-track clean energy projects in Greece and the region, positioning TERNA as Masdar’s flagship platform to support renewable goals and energy transformation in Europe.
GEK TERNA Chairman Georgios Peristeris noted that the integration with Masdar strengthens TERNA ENERGY’s growth potential and leadership in renewable energy across 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 250 MW. These plants are due to be operational within the next two years.
Masdar acquired 70% of TERNA ENERGY in November 2024 in a €3.2 billion deal—the largest energy transaction on the Athens Stock Exchange and among the biggest in EU renewables. It completed the purchase of the remaining 30% through an all-cash tender offer at €20 per share last month.
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