Masdar Acquires 560MW Enipeas Solar PV Project in Greece from Lightsource bp

Masdar has agreed to acquire the 560 MW Enipeas solar PV project from Lightsource bp in Thessaly, Greece.

The UAE-based renewable energy company Masdar has signed an agreement to acquire and further develop a solar photovoltaic (PV) project with a capacity of more than 550 MW from UK-based renewable energy developer Lightsource bp in Greece. The project, known as the Enipeas solar project, is located in the Thessaly region and has a total planned capacity of 560 MW. Once operational, it is expected to generate enough electricity to meet the annual needs of more than 200,000 households. The acquisition is intended to strengthen Greece’s renewable energy infrastructure and support its growing electricity demand.

The transaction also includes two privately owned substations that will connect the solar project to Greece’s electricity transmission system. Masdar plans to integrate a battery energy storage system (BESS) into the project to improve grid stability, increase the use of renewable energy and provide greater flexibility to the electricity network. Battery storage will help manage fluctuations in solar power generation and improve the availability of electricity when sunlight is limited. The project is expected to become operational by the end of 2026, subject to the necessary regulatory approvals and completion of the transaction.

The acquisition represents Masdar’s first strategic investment through TERNA ENERGY, which Masdar fully acquired in April 2025. TERNA ENERGY serves as Masdar’s platform for expanding its renewable energy business across southeastern and central Europe. Through this investment, Masdar aims to strengthen its presence in Greece, expand its solar energy portfolio and create operational and commercial synergies with its existing renewable energy assets. The company is targeting 6 GW of operational renewable energy capacity by 2030, supported by a planned investment programme of €5.5 billion.