por 
THE BAJA POST
NEWSROOM
SOURCE: PR NEWSMEDIA
Abu Dhabi Future Energy Company PJSC – Masdar («Masdar»), the UAE’s clean energy leader, announced today that it has successfully completed the acquisition of 70% of the outstanding shares of TERNA ENERGY SA (TENERGY.AT) from GEK TERNA SA (GEKTERNA.AT) and other shareholders, and received all regulatory approvals. The deal, agreed at a price of 20 euros per share, valued TERNA ENERGY at an enterprise value of 3.2bn euros, representing the largest ever energy transaction on the Athens Stock Exchange, and one of the largest in the EU renewables industry.
Following the closing of the transaction, Masdar will seek regulatory approvals from the Hellenic Capital Markets Commission (HCNC), for the launch of an all-cash mandatory tender offer («MTO») to acquire the outstanding shares of TERNA ENERGY.
TERNA ENERGY has been a key player in the renewable energy sector for over two decades, holding the largest and most diversified portfolio in Greece, as well as projects in Bulgaria and Poland. The company owns and operates clean energy projects across wind, solar, biomass and hydro technologies – Greece’s renewable energy leader is also building one of the largest pumped hydro projects in Europe, the 680MW Amfilochia project.
With TERNA ENERGY currently operating a capacity of 1.2 gigawatts (GW), the acquisition reflects Masdar’s confidence in the company’s impressive growth potential, targeting 6GW by 2029. TERNA ENERGY will play an important role in enhancing Masdar’s portfolio across Europe as it targets 100GW global capacity by 2030 in support of the energy transition.Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, commented: «Masdar is proud to become the majority shareholder of TERNA ENERGY, bringing together two energy champions. Our committed vision and long-term capital will unlock significant opportunities for further growth in TERNA ENERGY’s expansion as it executes on its strategy to support Greece’s renewable energy goals.
