With a strong portfolio of almost 2.000 MW of RES projects (installed or under construction), TERNA ENERGY operates across Greece, USA (~510MW installed capacity), Poland (~102MW installed capacity) and Bulgaria (~30MW installed capacity). The company aims for 6 GW of renewable energy operational capacity by 2029, supported by Masdar's commitment to accelerating renewable energy growth in Southeastern and Central Europe.
Cyborg Score Rationale
TERNA ENERGY was fully acquired by Masdar in April 2025 for €3.2 billion, the largest energy transaction on the Athens Stock Exchange, with Masdar providing significant capital investment in Greece and other EU countries. Revenues from continuing operations increased by 37.6% year-over-year to reach €347.1m for 2024. Strong growth trajectory, established market position, and access to Masdar's global resources support continued expansion.
Top Insights
In Q1 2025, TERNA ENERGY continued construction on key projects including the Amphilochia pumped storage plant and reached final investment decisions on new solar, wind and battery projects with combined capacity of 250MW, due to be operational within two years
Renewable energy generation increased 24.7% year-over-year to 3.2 TWh in 2024, driven by the Kafireas wind park (327 MW) completing towards end of 2023, bringing total installed capacity to 1,224 MW at year-end 2024
Masdar's 100% acquisition in April 2025 delisted TERNA ENERGY from the Athens Stock Exchange, enabling streamlined European strategy and portfolio integration
TERNA ENERGY has over 8,000 MW of RES in various stages of permitting process in Greece, providing substantial pipeline for medium-term growth
Named Competitors
Ørsted — Leading European offshore and onshore wind developer
EDF Renewables — Major European renewable energy operator with diversified portfolio
NextEra Energy Resources — Global renewable energy company with international operations
Recent Developments
(May 2025) Completed delisting from Athens Stock Exchange following Masdar's 100% acquisition in April 2025
(Q1 2025) Reached final investment decisions on 250 MW of combined solar, wind and battery projects with expected operational dates within two years
(2024) Generated 3,248,360 MWh of clean energy and prevented 1,318,572 tonnes of CO2 emissions; revenues increased 37.6% to €347.1 million
(April 2025) Kafireas wind park (327 MW) fully operational, the largest project in TERNA ENERGY's renewable portfolio
Open the full interactive TERNA ENERGY S.A. report
Strategic research, analyst-debate audio, full Cyborg Score breakdown across 11 dimensions, and saved-company audio playlists.