{"id":84916,"date":"2024-06-24T00:00:00","date_gmt":"2024-06-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/06\/24\/masdar-set-to-purchase-67-stake-in-greeces-terna-energy\/"},"modified":"2024-06-24T00:00:00","modified_gmt":"2024-06-24T00:00:00","slug":"masdar-set-to-purchase-67-stake-in-greeces-terna-energy","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/06\/24\/masdar-set-to-purchase-67-stake-in-greeces-terna-energy\/","title":{"rendered":"Masdar set to purchase 67% stake in Greece\u2019s Terna Energy"},"content":{"rendered":"

Masdar to acquire Greek renewables giant Terna Energy: <\/strong>UAE\u2019s Masdar has reached a final agreement to purchase an initial 67% stake in Greece\u2019s Terna Energy<\/a>, with plans to present an allcash, mandatory offer to buy the remaining stakes once the transaction is completed, according to a statement<\/a> released on Thursday. The shares are priced at EUR 20, valuing the company at EUR 3.2 bn. <\/p>\n

The bigger picture: <\/strong>The move pushes Masdar closer to achieving its goal of 100 GW of global energy capacity by 2030, the statement says. Terna \u2014 the largest investor in Greece\u2019s renewables sector \u2014 aims to achieve 6 GW operational renewables capacity by 2030 while its parent company Gek Terna<\/a> is hoping to become a leader of diversified infrastructure in Greece and Southeast Europe.<\/p>\n

Big acquisitions are the way to go for Masdar: <\/strong>Higher interest rates have \u201ctriggered a realization to the market that the valuation they were thinking of is not real,\u201d in contrast to the high valuations people were expecting when interest rates were at zero or negative, Chief Executive Mohamed Jameel Al Ramahi told the Financial Times<\/a>. In order to meet the company\u2019s 100 GW goal, Masdar needs \u201cto start thinking about making big acquisitions,\u201d Al Ramahi added. <\/p>\n

Not Masdar\u2019s first Greek venture:<\/strong> Masdar and the Greek Ministry of Environment and Energy, signed an agreement in March<\/a> to implement more projects under the GR-Eco Islands initiative which aims to accelerate the green transition of the Greek isles. Last December, Masdar also signed an agreement to collaborate on green infrastructure in Poros Island. <\/p>\n

About Terna Energy: <\/strong>Terna Energy is a clean energy platform that specializes in financing, developing, constructing, and operating renewable energy facilities with emphasis on wind, solar, hydroelectric, and pumped storage projects, according to their website<\/a>. It is the largest investor in Greece\u2019s renewables sector. <\/p>\n","protected":false},"excerpt":{"rendered":"

The transaction includes a mandatory offer to buy the remaining stakes of the Greek energy firm<\/p>\n","protected":false},"author":1,"featured_media":84917,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2016],"tags":[11,79,160,52],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-84916","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-enterpriseclimate","tag-ma-watch","tag-masdar","tag-uae","wpautop","entry"],"acf":{"mongo_id":"af7f8f1d-1772-426d-8da9-5989cb667f45","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/6\/1456.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Masdar set to purchase 67% stake in Greece\u2019s Terna Energy","related_issue":[84911],"teaser":"The transaction includes a mandatory offer to buy the remaining stakes of the Greek energy firm","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.49c2337e-7be0-424d-9ef6-2f2a689a535f.mp3"},"yoast_head":"\nMasdar set to purchase 67% stake in Greece\u2019s Terna Energy - 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