Masdar Buys 550 MW-Plus Greek Solar Site, Adds Data Centre Study
The deal is Masdar's first investment through TERNA ENERGY since taking full control, and comes alongside a green data centre pact with Khazna.
Masdar has agreed to acquire and develop a solar project in Greece with more than 550 MW of capacity. It is the Abu Dhabi company's first investment through TERNA ENERGY since it took full ownership of the Greek group.
The plant is being bought from Lightsource bp and is due to start generating by the end of 2026. Once running, it should produce enough electricity for more than 200,000 homes a year. Masdar plans to add battery storage at the site, an addition aimed at steadying the grid and helping Greece cover its power needs as demand rises.
TERNA carries the regional build-out
Masdar bought a 70% stake in TERNA ENERGY in November 2024, in a transaction that valued the company at $3.6 billion, or €3.2 billion. It closed the purchase of the remaining shares in April 2025. TERNA is now the vehicle Masdar uses to grow in southeastern and central Europe, and the new solar farm is expected to sit alongside its other assets, with shared operational and commercial benefits on both sides.
The Greek group is targeting 6 GW in operation by 2030, funded through a €5.5 billion ($6.2 billion) investment plan. For Masdar itself, global renewable capacity stands above 65 GW, with a goal of 100 GW by the end of the decade.
Clean power for computing
Alongside the acquisition, Masdar and Khazna Data Centers signed an agreement to explore green data centre development in Greece. The pairing sets Khazna's operating experience beside Masdar's renewable generation and storage work. Together they will assess dedicated clean power and storage capacity to serve demand from AI, cloud computing and other digital industries.
Mohamed Jameel Al Ramahi, Masdar's chief executive, said the agreements mark another important milestone in the company's European growth strategy. He said the solar project would be developed further with battery storage to deliver stable long-term returns.
Sultan Ahmed Al Jaber, Masdar's chairman and the UAE's Minister of Industry and Advanced Technology, said the initiatives would strengthen Greece's energy security. He said they support the country's ambition to become a regional digital hub and create investment opportunities.
The two countries have kept diplomatic ties for more than 50 years and are widening cooperation into energy, AI and advanced technology, which is the ground both agreements are built on.
The acquisition still needs regulatory approval and customary closing conditions. Completion is expected by the end of 2026, the same deadline set for the plant to begin supplying power.
