.png&w=3840&q=100)
Masdar Finalises Full Acquisition of TERNA ENERGY, Signalling Major Expansion in European Renewables
The process began with Masdar securing a 70% stake in TERNA ENERGY in November 2024, following regulatory approvals. Subsequently, the company initiated a mandatory tender offer and completed a squeeze-out process to acquire the remaining shares, finalising the full ownership. This acquisition aligns with Masdar's ambition to achieve a global renewable energy capacity of 100 gigawatts by 2030.
TERNA ENERGY, established in 1997, has been a pivotal player in Greece's renewable energy landscape, operating a diversified portfolio that includes wind, solar, hydroelectric, and biomass projects. The company currently manages 1.2 gigawatts of operational capacity and is developing the 680-megawatt Amfilochia pumped hydro project, one of Europe's largest energy storage initiatives. TERNA ENERGY aims to expand its operational capacity to 6 gigawatts by 2029.
The acquisition is expected to bolster Masdar's presence in Southeastern and Central Europe, regions identified as key markets for renewable energy growth. Masdar's leadership, including Chairman Dr. Sultan bin Ahmed Al Jaber and CEO Mohamed Jameel Al Ramahi, visited TERNA ENERGY's headquarters in Athens to discuss strategic plans with Executive Chairman Georgios Peristeris. The discussions focused on accelerating renewable energy projects and exploring new opportunities in the region.
See also OPEC+ Shifts Strategy with Unexpected Oil Output Increase
Masdar's expansion in Europe is part of a broader strategy to invest in renewable energy assets globally. The company has also acquired a 49.99% stake in 48 solar plants in Spain, amounting to 2 gigawatts of capacity, and is exploring further investments in Portugal and other European countries. These moves are indicative of Masdar's commitment to supporting the global energy transition and contributing to the European Union's net-zero emissions targets by 2050.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Gulf Today
an hour ago
- Gulf Today
US-EU trade deal leaves European countries unhappy
United States President Donald Trump in his vacuous hyperbole has called the US-European Union (EU) trade deal as 'the biggest deal ever made'. But for many European countries it was the best deal in a bad situation. German Chancellor Friedrich Merz said, 'This agreement has succeeded in averting a trade conflict that would have hit the export-orientated German economy very hard.' EU Trade Commissioner Maros Sefcovich told journalists, 'This is clearly the best deal we could get under very difficult circumstances.' He said that the 30 per cent tariff that Trump had threatened would have been 'much, much worse'. The deal now provides for 15 per cent tariff on all EU exports to the US, apart from buying $750 billion worth of energy, including oil, gas and nuclear from the US over the next three years. Experts say that the US will have a challenge producing so much of energy resources to sell to Europe. The EU has also pledged $600 billion in European investments in the US, a little higher than the $550 billion Japanese investments in the US. The difference is that while Japan will use the state-controlled banks to channel the flow of funds to the US, the EU has said this figure is based on the intention expressed by the European private companies. France has criticized the deal. French Prime Minister Francois Bayrou wrote on X, 'It is a dark day when an alliance of free peoples, brought together to affirm their common values and to defend their common interests, resigns itself to submission.' Sweden said it was the 'least bad alternative' and Spain said it was backing the agreement but 'without enthusiasm.' Wolfgang Grobe Entrup, head of the German Chemical Industry Association said, 'Those who expect a hurricane are grateful for a storm.' The US-EU trade agreement is one that has been clinched under duress by the Americans. But it is not going to be an easy agreement to implement. The EU wants to buy energy from the US. The question is whether the US has the capacity to produce enough energy to meet the demands of the EU. It seems that the US will find it difficult to sell energy to Europe to the tune of $750 billion. This is just one part of the problem. Europe will bear a heavy burden even though the US tariffs are now at 15 per cent. Before the deal, the tariff was at 2.5 per cent, which was very, very low indeed. A fair deal would have been where the rise in tariff would have been gradual, starting from 5 per cent and going up to 7.5 per cent because then it would not have hurt the business costs for Europe as well as for the American businesses and consumers buying European goods and services. Trump's shock treatment would harm the Americans as much as the Europeans. Will the Europeans keep up the present volumes of exports to the US at the present levels – $605.8 billion in 2024 – because the 15 per cent tariff will impact the exports on both the American and European ends? European companies will have to factor in the 15 per cent tariff into the price, and the American consumer will have to pay so much more. The US exports to Europe are far less at $370.2 billion in 2024 and the trade deficit is $235.6 billion. Will these figures change because of the deal? Will US exports to Europe increase, though European exports to the US are likely to fall? And the US may not be able to cover up the trade deficit. It is not a punitive deal, and it will not benefit the US.
Broadcast Pro
2 hours ago
- Broadcast Pro
Lawo to unveil cutting-edge broadcast innovations at IBC 2025
Future-ready infrastructure management, software-defined workflows and virtual DSP engines will be on display at IBC. At this year's International Broadcasting Convention (IBC) in Amsterdam, taking place from September 12 to 15, Lawo is reaffirming its status as a major player in IP-native broadcast infrastructure and media production solutions. The company will be showcasing a suite of next-generation technologies focused on software-defined workflows, cloud-ready architecture and flexible deployment models, enabling broadcasters to create agile, scalable and highly efficient production environments. Key highlights include the European debut of Lawo's implementation of the European Broadcasting Union's (EBU) Dynamic Media Facility (DMF) initiative. This dynamic installation leverages a generic server cluster and Lawo's HOME Apps, with setup changes triggered via buzzer-style buttons, offering an interactive demonstration of agile media infrastructure and VSM workflow control. Lawo is also launching HOME 4.0, a major upgrade to its IP-native management platform. This latest version introduces architectural refinements and a simplified licensing model through HOME Passes, which are required only for actively managed devices or apps. While the platform itself is free, broadcasters can choose between perpetual licenses or flexible subscription options, allowing infrastructure to grow alongside operational needs. New Lawo devices will include the necessary passes, and existing users have access to a streamlined upgrade path. The .edge platform has also received a significant update with system software v3.2, offering 11 selectable firmware images and enhanced processing features such as JPEG-XS encoding, SDI<>IP conversion, frame synchronization, and UHD Gearboxing. With the highest 3G port density per rack unit in the industry, .edge now supports advanced multiviewer functionality through the HOME Multiviewer app, optimising video feeds with intelligent resolution scaling. In a move toward greater accessibility, Lawo has introduced Lawo Workspaces—HTML5-native, browser-based user interfaces for the HOME ecosystem. This innovation allows users to operate professional broadcast tools from any modern device, including laptops, tablets, smartphones or AR headsets. Security is fully handled by the HOME framework, making these interfaces suitable for distributed or hybrid production environments. Lawo also announced the official release of the HOME Power Core app, a virtualised version of its DSP engine for radio broadcasting. Designed to run on standard servers, the app mirrors the capabilities of the hardware Power Core unit and supports a wide range of protocols including RAVENNA/AES67, ST2110 and future additions like Dante, NDI and SRT. Available in multiple instance sizes, the app provides flexible deployment options for radio workflows, talk shows, and live webcasts, with seamless integration into Lawo's mixing consoles and stageboxes. Further demonstrating its commitment to continuous innovation, Lawo emphasised that its HOME Apps are updated almost monthly. These microservice-based tools are optimised for increasingly powerful servers and high-throughput network fabrics, supporting up to 400Gbps connections. Software enhancements to Lawo's mc² audio consoles are also being revealed at IBC. Version 12.2.0 introduces tighter integration with VSM through the HOME API, improved display management with customisable Mini Displays, and a new standard 7-Band EQ module featuring three dynamic bands. Operators also benefit from enhanced control via fader user buttons for faster access to banks and layers. Meanwhile, the new Radio 8.2 software release brings significant improvements for radio broadcasters, including support for 96kHz processing through the XL License and updated compressor functionality with both automatic and manual modes. Enhancements to Lawo's VisTool software include faster configuration options, improved touch response, and better visual feedback, all of which contribute to a more ergonomic and efficient studio environment. With its extensive portfolio of software and hardware innovations on display, Lawo is offering IBC visitors a comprehensive look at the future of media infrastructure and production—designed to meet the evolving needs of broadcasters around the world. Stand 8.B90
Crypto Insight
4 hours ago
- Crypto Insight
Rakbank becomes the first UAE bank to offer crypto trading for retail
The National Bank of Ras Al Khaimah (Rakbank), a government-owned bank in the United Arab Emirates (UAE), is the first conventional bank in the country to offer retail crypto trading. In a Tuesday news release, the bank announced the launch of a crypto brokerage service through its mobile banking app, allowing customers to buy, sell and swap cryptocurrencies directly from their UAE dirham accounts. 'We recognize the opportunity this solution will provide to customers in the UAE, as we believe they deserve a more efficient and seamless crypto buying, selling and swapping journey that is fully regulated and entirely in AED [dirhams],' said Raheel Ahmed, group CEO of Rakbank. The new offering is powered by Austria-based Bitpanda, with transactions facilitated by Bitpanda Broker MENA DMCC, a Virtual Assets Regulatory Authority (VARA)-regulated entity in Dubai. Bank-backed crypto trading now possible Rakbank said customers can trade crypto without needing to transfer funds to an external exchange or convert between fiat currencies, eliminating foreign exchange fees. The integration uses Bitpanda's infrastructure to execute trades and manage custody. 'We are proud to be the first conventional bank in the UAE to enable simple, secure, and regulated access to a world-class digital assets platform,' Ahmed said. The crypto trading service is currently available by invitation only, with a broader rollout expected in the coming months. Lukas Enzersdorfer-Konrad, deputy CEO of Bitpanda, called the partnership 'a big moment for digital assets in the region.' Bitpanda is regulated in multiple European jurisdictions and has existing institutional partnerships with Deutsche Bank, N26 and Raiffeisen Bank. Cointelegraph reached out to Rakbank for comment but had not received a response by publication. Rakbank launches crypto platform in UAE Last year, Rakbank partnered with Bitpanda to build a digital asset management platform for residents. The bank described digital assets as the 'future,' adding that they offer a more efficient and secure way for customers to manage finances. Rakbank's push into crypto comes as the UAE strives to establish itself as a primary destination for blockchain and crypto projects. The Dubai Multi Commodities Centre free zone has attracted over 600 crypto companies, with more firms flocking to the Dubai International Financial Centre and One Central district as the country positions itself as a leader in digital finance. Last month, the Dubai Financial Services Authority, the financial regulator in charge of the Dubai International Financial Centre, approved Ripple's RLUSD stablecoin. Source:
