{"id":98400,"date":"2024-11-29T00:00:00","date_gmt":"2024-11-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/masdar-snaps-up-70-of-greeces-terna-energy\/"},"modified":"2024-11-29T00:00:00","modified_gmt":"2024-11-29T00:00:00","slug":"masdar-snaps-up-70-of-greeces-terna-energy","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/11\/29\/masdar-snaps-up-70-of-greeces-terna-energy\/","title":{"rendered":"Masdar snaps up 70% of Greece\u2019s Terna Energy"},"content":{"rendered":"

Masdar completes acquisition of Greek renewables giant Terna En<\/strong>ergy: <\/strong>State-run renewables giant Masdar completed its acquisition of a 70% stake in Greece\u2019s Terna Energy<\/a> for EUR 20 per share, valuing the company at EUR 3.2 bn, and marking one of the largest acquisitions in the EU renewables industry, according to a statement<\/a>. Madar \u2014 now Terna Energy\u2019s majority shareholder \u2014 plans to seek regulatory approval for an all-cash, mandatory offer to buy the remaining stakes of the Greek company.<\/p>\n

REFRESHER- <\/strong>Masdar reached a final agreement to purchase an initial 67% stake in Greece\u2019s Terna Energy earlier in June<\/a>, with plans to buy the remaining stakes once the transaction is completed.<\/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 of operational renewables capacity by 2029 while its parent company Gek Terna<\/a> is focused on becoming a leader in diversified infrastructure across Greece and Southeast Europe.<\/p>\n

Terna Energy\u2019s current portfolio<\/strong>: The company\u2019s capacity sits at 1.2 GW today, operating across a diverse renewable energy portfolio of wind, solar, biomass, and hydro projects, including the 680 MW Amfilochia pumped hydro project, one of Europe\u2019s largest.<\/p>\n

Masdar has been on an acquisition spree this year: <\/strong>The company acquired<\/a> Spanish renewable energy firm Saeta Yield from Canada-based investment firm Brookfield for USD 1.4 bn in September. It also snapped up<\/a> a 50% stake in Spanish power firm Endesa\u2019s solar power installations subsidiary EPGE Solar for AED 3.3 bn. Outside of Europe, it acquired<\/a> a 50% stake in one of the largest independent renewable energy producers in the United States, Terra-Gen Power Holdings<\/p>\n

ADVISORS- <\/strong>Masdar appointed Rothschild & Co. as financial advisor and Simmons & Simmons, Bernitsas Law, and Latham & Watkins for legal counsel. Gek Terna and Terna Energy were advised by Morgan Stanley, Reed Smith, and Potamitis Vekris.<\/p>\n","protected":false},"excerpt":{"rendered":"

The renewables giant purchased the stake for EUR 3.2 bn<\/p>\n","protected":false},"author":1,"featured_media":98401,"comment_status":"","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":[2392],"tags":[7,25,1344,60,171],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-98400","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-enterpriseam-uae","tag-investment-watch","tag-ma","tag-ma-watch","tag-masdar","wpautop","entry"],"acf":{"mongo_id":"3c89c77d-52cb-446c-aecf-091941e2457e","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/1452.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Masdar finalizes acquisition of 70% of Greece\u2019s Terna Energy","related_issue":[98393],"teaser":"The renewables giant purchased the stake for EUR 3.2 bn","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.70210b04-db16-4366-a91c-4a731397089c.mp3"},"yoast_head":"\nMasdar snaps up 70% of Greece\u2019s Terna Energy - 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