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UAE renewables company Masdar to buy Greece's Terna Energy

VCCircle

VCCircle · 1y ago

UAE renewables company Masdar to buy Greece's Terna Energy

Renewable energy company Masdar, owned by TAQA, Mubadala, and the Abu Dhabi National Oil Company, has agreed to purchase a 67% stake in Greek company Terna Energy for €20 ($21.45) per share. The acquisition values Terna Energy at €2.4bn ($2.57bn) on an equity basis and €3.2bn ($3.43bn) enterprise value. Masdar plans to make a mandatory offer for the remaining shares once the initial acquisition is complete. The deal is subject to regulatory approval.

Related News

UAE's Masdar buys Brookfield's Saeta Yield in $1.4 bn deal

VCCircle

VCCircle · 11m ago

UAE's Masdar buys Brookfield's Saeta Yield in $1.4 bn deal

Masdar, the renewable energy company from the UAE, has agreed to acquire Spanish green energy firm Saeta Yield from Canada's Brookfield in a deal worth $1.4bn. The deal includes acquiring 745 MW of wind assets and 1.6 GW of projects in Spain and Portugal, making it one of the largest deals of its kind in the region. This follows Masdar's recent minority stake purchase in 48 solar plants controlled by Endesa in Spain. Masdar aims to grow its renewable energy capacity to 100 GW by 2030. The deal is expected to close by the end of the year.

UAE's Masdar eyes more market share in Iberian market after two deals

VCCircle

VCCircle · 11m ago

UAE's Masdar eyes more market share in Iberian market after two deals

UAE-based renewable energy company Masdar is planning to expand its presence in the Iberian market following two recent deals in the region. Masdar recently acquired Saeta Yield from Brookfield in a $1.4bn deal, as well as taking a minority stake in a 2 GW solar portfolio controlled by Endesa. Masdar aims to develop its Spanish platforms further and is in discussions with Endesa to develop up to 5 GW of capacity. The company will also explore new partnerships, but with a selective approach.

ADNOC eyes international listing of investment arm XRG

VCCircle

VCCircle · 5m ago

ADNOC eyes international listing of investment arm XRG

Abu Dhabi National Oil Company (ADNOC) is considering listing its international investment arm, XRG, on an exchange outside the UAE, potentially becoming one of the largest listed energy companies globally. Early discussions involve Bank of America advising on strategy. XRG, with $80 billion in assets, aims for global deals in chemicals, natural gas, and renewables. Potential listing venues include London or New York. This aligns with ADNOC's international growth strategy and diversification from oil revenue.

UAE's Masdar plans more European bets after $887 mn Spanish solar deal

VCCircle

VCCircle · 1y ago

UAE's Masdar plans more European bets after $887 mn Spanish solar deal

Masdar, the UAE's renewable energy company, plans to expand its investments in Europe's green energy sector. The company recently acquired a 49.99% stake in 48 solar plants in Spain, and is now looking for more opportunities in the region. It will consider both minority investments and controlling stakes. Masdar has already invested in renewable projects worldwide, with a total capacity of around 20 GW. The company expects Europe to be a significant contributor to its goal of reaching 100 GW capacity by 2030.

UAE renewables firm Masdar weighs possible IPO

VCCircle

VCCircle · 5m ago

UAE renewables firm Masdar weighs possible IPO

Abu Dhabi's state-owned renewable company, Masdar, is considering an initial public offering (IPO) to raise funding for renewable projects. This potential listing, possibly not before 2026, might occur in Abu Dhabi with a dual listing in New York. Although Masdar currently has no public plans for an IPO, it's expanding its operations globally, targeting 100 gigawatts of renewable energy by 2030. Recent acquisitions highlight its strategic growth in Europe and other regions.

UAE's Masdar launches facility to produce 1GW of uninterrupted renewable energy

VCCircle

VCCircle · 7m ago

UAE's Masdar launches facility to produce 1GW of uninterrupted renewable energy

UAE's Masdar has launched a renewable energy facility capable of producing 1 gigawatt of uninterrupted clean power. Announced during Abu Dhabi Sustainability Week by Sultan Al Jaber, the project marks a significant advancement in transforming renewable energy into consistent baseload power. Al Jaber highlighted the challenge of meeting rising energy demands, potentially increasing by 250% by 2050. This initiative addresses the need for diverse, reliable energy sources to support the future's energy-hungry applications like ChatGPT.

NPIL Signs MoU With Greece’s Eurobank To Facilitate Foreign Inward Remittances To India

Inc42 · 1y ago

NPIL Signs MoU With Greece’s Eurobank To Facilitate Foreign Inward Remittances To India

India's National Payments Corporation of India (NPCI) International Payments Limited (NIPL) has signed an MoU with Greece's Eurobank, enabling cross-border payments to India through the Unified Payments Interface (UPI). The collaboration will facilitate foreign inward remittances from Greece to India, offering streamlined payment solutions to the Indian diaspora in Greece. NIPL and Eurobank will handle fund settlement, reconciliation, and dispute resolutions in their respective jurisdictions. Greece joins countries such as Sri Lanka, Mauritius, Bhutan, Nepal, the UAE, and Canada in adopting UPI for cross-border payments.

Taiwan chip industry pushes government to speed up renewables

Economic Times

Economic Times · 1y ago

Taiwan chip industry pushes government to speed up renewables

Taiwan chip industry pushes government to speed up renewables The Taiwanese semiconductor industry is urging the government to accelerate the development of renewable energy sources, as the sector is facing power shortages due to the country's reliance on fossil fuels. The chip industry is a key driver of Taiwan's economy, and a shift to renewables would not only address the energy crisis but also contribute to reducing carbon emissions.

Shell’s green play: Interest heats up for Sprng Energy's 1GW assets

Livemint

Livemint · 1y ago

Shell’s green play: Interest heats up for Sprng Energy's 1GW assets

Shell Plc is considering the sale of 1 GW of operational renewable energy assets from its Sprng Energy unit in India. The sale, which has an enterprise value of $1.1 billion, has attracted interest from global and domestic entities such as ArcelorMittal, Sembcorp Industries, CPPIB, and JSW Neo Energy. HSBC is overseeing the deal, following Shell's strategy to grow its renewables portfolio and accelerate the growth of its renewables portfolio while focusing on capital discipline. Other renewable energy companies in India, such as ReNew Energy Global, are also adopting capital recycling strategies to reinvest in new projects.

I Squared-backed Hexa acquires Fortum's India renewables arm; to invest $500 mn

VCCircle

VCCircle · 4m ago

I Squared-backed Hexa acquires Fortum's India renewables arm; to invest $500 mn

Hexa Climate Solutions, supported by I Squared Capital, acquired Fortum's India renewables arm, including a 206 MW renewables portfolio and a 600 MW project pipeline. The acquisition, although undisclosed in value, reinforces India's renewable energy goals. Hexa plans to invest $500 million to expand its clean energy platforms across the country and emerging markets. This transaction marks Fortum's exit from India, aligning with its strategy to concentrate on its home market.

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