The last 12 months have been a period of intense developments for GEK Terna, with the latest event being the agreement that will lead to the sale of GEK Terna's stake in Terna Energy by the group's Chairman and CEO, C. Peristeris, at the regular AGM of the shareholders.

In addition to the deal's other benefits, he stated that one of its most important features is the removal of a €1.1 billion loan from Energy from the balance sheet in exchange for €3 billion in total cash that GEK TERNA can use with no net borrowings.

He added that the non-consolidation of TENERG must be made up for and expressed confidence that operating profitability can continue to grow at double-digit rates and reach EUR 700 million in 2028.

Mr. Peristeris made it clear that the sale of TENERG is only one part of the plan, with the aim of GEK TERNA remaining a fully vertically integrated group. 

He expressed confidence that GEK TERNA will continue to be a leading player in infrastructure, noting that the average remaining life of concessions is 25 years. He added that GEK TERNA will strive to have a presence in the nearby regions of Southeast Europe that need infrastructure improvements. We want to be competitive and claim a serious share there, he said.