RCS - Abu Dhabi Future Eng - Masdar completes 100% acquisition of TERNA ENERGY

Terna Energy SAAnnouncement

10/04/2025 09:00

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RNS Number : 4846E  Abu Dhabi Future Energy Co. PJSC  10 April 2025

Market Note - English

Masdar Cements Major European Expansion with Completion of 100% Acquisition of
TERNA ENERGY

·    Conclusion of mandatory tender offer gives Masdar 100 percent
ownership of Greek clean energy champion, having acquired 70 percent last year

·    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 - April 10, 2025: 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 future 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.

-ENDS-

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