Masdar buys out Greece’s Terna Energy in USD3.4 billion deal
Masdar, a renewables developer based in Abu Dhabi, has agreed to acquire a majority stake in Greek energy company Gek Terna.
Masdar had a definite agreement with Gek Terna and other shareholders to acquire initially 67% of the outstanding shares of Terna Energy after the transaction for EUR20 (US$21.46) per share. Masdar plans to launch an all-cash mandatory tender offer to acquire 100% of Terna Energy’s shares.
Masdar's EUR3.2 billion (US$3.43 billion) deal is its largest in Greece to date. In December 2023, Masdar and the Greek government agreed to develop a 7 MW solar plant on Poros Island, covering much of the island's electricity needs, with Masdar fully funding the project. The Greek company, established in 1997, leads in Greece’s wind energy sector with 1.2 GW of onshore wind power. The 330 MW Kafireas project on Evia Island is Terna Energy’s largest wind project, consisting of multiple wind farms nearby.
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January 19, 2023
Financing received for 230 MW Solar project in Greece
PPC Renewables has been granted EUR28.5 million (US$30.85 million) financing by the European Investment Bank (EIB) for the development of the 230 MW solar photovoltaic project located in Kozani in Western Macedonia, Greece.
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April 14, 2022
Ellaktor receives approval for the development of 160 MW wind complex in Greece
Sofrano, a unit of Greek construction group Ellaktor SA has received environmental approval for the construction of the 160 MW wind complex in Evia Island, Greece.
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June 07, 2021
The USD462 million Subsea interconnection project in Greece starts operation
Hellenic Cables in partnership with Independent Power Transmission Operator (IPTO) has announced the successful electrification of the 178 km long submarine and underground electrical interconnection between Crete and Peloponnese.
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May 03, 2021
Hellenic cables to install subsea connection for 330 MW Offshore wind farm in Greece
Hellenic Cables has been selected by TERNA ENERGY S.A, following an international tender, for the design, manufacturing, supply and installation of the 150 kV submarine cable system which will connect the under-construction 330 MW Kafireas II Wind Farm to Greece’s mainland grid.
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March 12, 2021
European Investment Bank to finance USD1.19 billion Interconnection project in Greece
The Independent Power Transmission Operator announces the participation of the European Investment Bank (EIB) in the financing of Crete-Attica interconnection, a project with a total budget of EUR1 billion (USD1.197 billion), being implemented by IPTO’s fully owned subsidiary “Ariadne Interconnection”.
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