Terna Energy aims for an operational 6 GW by 2030 supported by a €5 billion investment plan, aligning capital deployment with EU Recovery & Resilience windows in 2025–2026. The 2024–2025 Masdar acquisition transformed Terna Energy from Greece's leading renewables producer into a global growth play, unlocking capital and expertise. Expect accelerated project execution, portfolio diversification, and stronger grid integration across Europe and MENA.
Cyborg Score Rationale
TERNA ENERGY is the largest investor in the RES sector in Greece and the biggest Greek company in the sector worldwide. Post-acquisition by Masdar (April 2025), the company has secured significant capital ($3.2B enterprise value) and global strategic backing. With 1,224 MW operational capacity and aggressive 6 GW targets by 2030, plus diversified technology mix (wind, solar, hydro, storage), Terna Energy is well-positioned for sustained growth and EU grid decarbonization.
Top Insights
(April 2025) Masdar's €3.2B acquisition marks the largest energy transaction on Athens Stock Exchange, providing capital and global expansion platform for European renewable growth
(end 2024) Installed capacity reached 1,224 MW with 24.7% year-on-year energy generation growth to 3.2 TWh; FY 2024 revenues grew 37.6% to €347.1M
(2025-2026) Strategic pipeline includes 67 MW PV under construction, 500 MW new projects (wind/solar/storage) and 680 MW Amfilochia pumped hydro for grid stability at 80% renewable penetration target
(2030 target) Ambitious 6 GW installed capacity goal via €5B investment, geographic expansion to Bulgaria/Poland, and technology innovations (AI/IoT, green hydrogen, floating solar)
Named Competitors
Enel Green Power — Pan-European renewable energy and distribution operator
EDF Renewables — Large-scale wind, solar and hydroelectric operator across Europe
Engie — European renewable energy and environmental services leader
Helios Energy — Regional Greek and Balkan renewable energy developer
Recent Developments
(April 2025) Masdar completes 100% acquisition of TERNA ENERGY for €3.2 billion enterprise value, largest energy transaction on Athens Stock Exchange
(2024) FY revenues from continuing operations grew 37.6% to €347.1 million; adjusted EBITDA increased 22.6% to €212.6 million with 1,224 MW installed capacity
(Q2 2025-Q2 2026) 67 MW photovoltaic projects under construction with 500 MW additional projects commencing, approximately €370 million investment expected operational by end 2025
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