GEK Terna's agreement with the Masdar fund of the United Arab Emirates for the acquisition of more than 50% of the shares of Terna Energy is expected to be announced any day now. 

It is recalled that interest in the company had Macquarie and First Sentier have also shown interest in the company. Masdar is a state-owned company of the United Arab Emirates, whose shareholders are the Abu Dhabi National Oil Company, the energy company TAQA, and the Mubadala Fund.

Upon the closing of the deal, Masdar will take over the 37.3% held by GEK Terna, 11% of C. Peristeri's 11%, and Vaggelis Marinakis, as well as percentages from executives. This will be followed by a public offer to the remaining shareholders at the price at which the main shareholders sold.

It is estimated that the transaction will raise approximately €870 million for GEK Terna.

Installed capacity at the end of Q1 amounted to 1,227 MW, compared to 906 MW at the end of Q1 2023. It may be recalled that the 327 MW Kafirea project was fully electrified in the last quarter of 2023. Since the beginning of the year, Terna Energy Group has continued to further develop its portfolio, as 63 MW of photovoltaic projects are under construction in Greece, while the construction of another 560 MW of new projects of various technologies (mainly PV but also wind and storage projects) in Greece and abroad is gradually starting, which are expected to come on stream by the end of 2025, representing a total investment of €370 million.