Founded in 1997, Terna Energy specializes in financing, developing, constructing, and operating renewable energy facilities, focusing on wind, solar, hydroelectric, and pumped-storage projects. The company aims to achieve a renewable energy operational capacity of six gigawatts by 2030, positioning itself as the largest investor in the Greek renewable energy sector.
Masdar to Buy Terna Energy: Expanding Global Reach
Since its inception in 2006, Masdar has developed and invested in clean energy projects across more than 40 countries, boasting a combined capacity of over 20 gigawatts. The acquisition of Terna Energy is expected to provide significant capital investment in Greece, supporting the country’s National Energy and Climate Plan and the European Union’s net-zero target by 2050. This move also aligns with Masdar’s ambition to reach 100 gigawatts of global capacity by 2030.
“Our agreement with Masdar is a recognition of the great value of Terna Energy and the result of the hard work of hundreds of people for more than 25 years,” said Georgios Peristeris, chairman and CEO of GEK Terna and executive chairman of Terna Energy. “The agreement will ensure a future with greater energy autonomy for our country, based on clean energy produced in our homeland. And we will continue on the same course with even greater power.”
Leadership Continuity and Future Prospects
Post-acquisition, Peristeris and Terna Energy CEO Emmanuel Maragoudakis will retain their current roles, ensuring continuity in leadership. The deal, however, remains subject to regulatory approvals and other customary closing conditions.
Legal Teams
The Simmons & Simmons team advising Masdar was led by partner Raghav Ghai. Bernitsas Law’s team was led by partners Nikos Papachristopoulos, Yannis Seiradakis, and Athanasia Tsene, along with partners Marina Androulakakis, Maria Nefeli Bernitsa, and Tania Patsalia. Potamitis Vekris’ project team, advising Terna Energy and GEK Terna, was led by partner Vassilis Stergiou, with lead partner Aspa Malliou advising on tax aspects.
