“Masdar Invests in the people of Greece and in the vision of TERNA ENERGY”

In an exclusive interview with To Vima on Sunday, Mr. Mohamed Jameel Al Ramahi stresses that Masdar’s investment in TERNA ENERGY demonstrates “our commitment to the growth of Greece’s renewable energy sector and the long-term growth potential of TERNA ENERGY itself.” He goes on to stress that the investment reflects “our strong confidence in its leadership team and strategic direction,” noting that: “Above all, this is an investment in the people of Greece and the vision of its leadership. By welcoming TERNA ENERGY into the Masdar family, we will drive economic growth, create local jobs, and advance the energy transition in Greece and across Europe,” the CEO of the Arab Group concludes.

Masdar has a leading presence across six continents and has now made Greece a key pillar in its global strategy by becoming the majority shareholder of TERNA ENERGY. Tell us a bit about how Masdar got here in the context of this acquisition and vote of confidence in Greece’s contribution to the energy transition.

As the UAE’s clean energy champion, Masdar is one of the world’s fastest-growing renewable energy companies and has been pioneering clean energy for nearly two decades since we were first launched by the Abu Dhabi leadership in 2006. Today, Masdar has grown to over 31.5GW of global clean energy capacity, with a footprint in over 40 countries across six continents.

With an ambitious target to reach 100 GW by 2030, acquiring 70% of TERNA ENERGY marks yet another historic milestone in Masdar’s unprecedented growth journey.

This investment, valued at over 3 billion Euros, is a demonstration of our commitment to the growth of Greece’s renewable energy sector and the long-term growth potential of TERNA ENERGY itself, as well as an expression of our strong confidence in its leadership team and strategic direction.​

Above all, this is an investment in the people of Greece and the vision of its leadership.  By welcoming TERNA ENERGY into the Masdar family, we will drive economic growth, create local jobs, and advance the energy transition in Greece and across Europe.

How is this partnership going to benefit not only Greece but the whole of Europe?

With Greece playing an increasingly important role in European economic and energy security, this investment will help strengthen regional energy security and support the EU’s broader climate ambitions.

The deal is expected to provide significant capital investment in Greece and other European countries, supporting TERNA ENERGY’s expansion and its contribution to Greece’s National Energy and Climate Plan (NECP) and the EU’s net zero by 2050 target.

As TERNA ENERGY targets 6GW by 2029, it will play a key role in supporting Masdar’s broader growth strategy.

With the transaction valued at EUR 3.2 billion, this deal represents the largest energy transaction on the Athens Stock Exchange and underscores the strength of the bilateral relationship between Greece and the UAE when it comes to energy cooperation. Can you tell us how this transaction will further strengthen those ties?

As the largest ever energy transaction on the Athens Stock Exchange, and one of the largest in the history of Europe, this deal represents a significant advancement in the strong and growing bilateral relationship that the UAE and Greece share.

Masdar’s partnership with TERNA ENERGY is bringing our nations closer together, building on our shared commitment to delivering world class clean energy projects and advancing the global energy transition.

This deal is also a key example of how the UAE is helping to drive foreign direct investment into Greece, as the Hellenic Republic continues to attract investment through supportive policies and regulatory environments that facilitate business and drive economic growth.

The UAE and Greece are both blessed with an abundance of natural resources, and we are working together to unlock their full potential for a more sustainable future – not just for both of our countries – but for the benefit of the planet as a whole.

As the UAE’s clean energy champion, can you tell us more about the UAE’s plans to accelerate the global energy transition through Masdar?

Masdar was first launched by the UAE leadership to pioneer clean energy nearly two decades ago, at a time when it was still a nascent industry. The foresight to establish a clean energy vehicle early on stems from the UAE’s long-standing commitment to sustainability, which has been deeply entrenched in our culture since our country was first founded.

This commitment was also on full display as the UAE hosted COP28 last year, where the historic UAE Consensus was adopted with a global commitment to triple the world’s clean energy capacity.

Masdar is focused on helping countries around the world to deliver on the UAE Consensus, and – through TERNA Energy – we will support Greece and Eastern Europe in meeting their climate ambitions and delivering clean energy access to all.