📋 Tender Overview
Agreement to acquire and develop 550+ MW solar project, one of largest in Greece, will strengthen countrys clean energy infrastructure and support its ambitions as a European digital hub
Masdar and Khazna Data Centers also sign MoU to advance green data center development in Greece
Investment builds on UAE-Greece strategic partnership as the two countries mark 50+ years of diplomatic relations
Acquisition marks Masdars first strategic investment in Greece since taking TERNA ENERGY private in 2025
Planned integration of battery storage will support grid stability and integration of renewables into Greeces electricity system
Abu Dhabi Future Energy Company PJSC - Masdar, a global clean energy leader, has signed an agreement to acquire and develop one of Greeces largest solar projects, strengthening the countrys clean energy infrastructure and supporting its ambitions as a European digital hub, while deepening the strategic partnership between the UAE and Greece.
The agreement was announced during the official visit to Greece by His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, as the two countries mark over 50 years of diplomatic relations and seek to expand cooperation across energy, artificial intelligence (AI) and advanced technology.
Supporting Greeces digital economy
As AI, cloud computing and digital industries drive rising electricity demand, access to affordable, reliable energy is becoming increasingly important to economic competitiveness. Greeces strategic location at the intersection of Europe, Africa and Asia, alongside growing investment in digital infrastructure, positions it to become an important regional hub for these industries.
The 550+ megawatts (MW) solar photovoltaic (PV) project, being acquired from Lightsource bp, is set to become operational by the end of 2026 and will produce enough electricity to power more than 200,000 homes a year. The project will support meeting electricity demand growth in Greece driven by AI and digital infrastructure.
Separately, Masdar and Khazna Data Centers signed a Memorandum of Understanding (MoU) to advance green data center development in Greece, combining Khaznas data center development and operational capabilities with Masdars renewable energy and energy storage expertise. The partnership will explore dedicated clean power and storage solutions to support Greeces growing digital infrastructure needs, creating significant opportunities for investment, economic growth and energy security.
His Excellency Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Chairman of Masdar, said:
The UAE and Greece share a strategic partnership built on trust, long-term ambition and a commitment to mutual prosperity. As artificial intelligence and digital industries transform the global economy, access to reliable, affordable energy will be increasingly critical to competitiveness and growth. Masdars expanding renewable energy portfolio, alongside its new collaboration with Khazna, brings together two essential foundations of the future economy: clean power and digital infrastructure. Together, these initiatives will strengthen Greeces energy security, support its ambition to become a regional digital hub and unlock new opportunities for investment and economic growth. They also reflect the UAEs commitment to building enduring international partnerships that power the industries of tomorrow and deliver lasting prosperity.
Mohamed Jameel Al Ramahi, Chief Executive Officer, Masdar, said:
These agreements represent another important milestone in our European growth strategy, expanding our portfolio with a high-quality solar asset that we will develop further with battery storage, and will deliver stable, long-term returns. Our collaboration with Khazna builds on this foundation, exploring opportunities to power Greeces growing digital economy with clean energy. Through TERNA ENERGY, we are building a stronger renewable energy platform in Greece and the wider region, while creating long-term value for our shareholders, partners and the communities we serve.
Enhancing the project through battery storage
Masdar also plans to enhance the 550+ MW project with the integration of battery storage. This addition will support grid stability, enabling greater integration of renewables and providing additional flexibility to Greeces power system. The transaction will also include two privately owned substations connecting the project to the electricity transmission system.
Building on Masdars acquisition of TERNA ENERGY
The acquisition marks Masdars first strategic investment made through TERNA ENERGY and represents a significant step in building Masdars presence in southeastern Europe. The solar project will complement TERNA ENERGYs existing portfolio, enhance operational and commercial synergies, and strengthen Masdars position in one of Europes fastest-growing renewable energy markets.
TERNA ENERGY is Masdars platform for expansion across Southeastern and Central Europe. Masdar completed its 100 per cent acquisition of the company in April 2025, following an initial 70 per cent acquisition in November 2024 that valued the company at EUR3.2 billion, marking the largest energy transaction at that time on the Athens Stock Exchange. Masdar is leveraging TERNA ENERGYs strong track record to become one of the largest renewables developers in the region, targeting 6 gigawatts (GW) of operational capacity by 2030, backed by a EUR5.5 billion investment plan.
Powering the Age of Intelligence
As the adoption of AI and other advanced technologies accelerates, demand for reliable, affordable renewable energy is rising to meet the needs of the digital economy while supporting clean energy objectives. Masdar is currently developing the worlds first gigascale round-the-clock renewable energy project in Abu Dhabi, transforming renewable energy into a true, dispatchable resource that
