Masdar to Develop 550MW Solar Project in Greece by 2026

Abu Dhabi-based Masdar has agreed to acquire and develop a solar project exceeding 550 megawatts (MW) in Greece, with operations expected to commence by the end of 2026. The project, acquired from Lightsource bp, aims to generate enough electricity to power over 200,000 homes annually. Masdar plans to integrate battery storage to enhance grid stability and support Greece’s growing electricity demands.

The acquisition marks Masdar’s first strategic investment through TERNA ENERGY, its platform for expansion across southeastern and central Europe. The project will complement TERNA ENERGY’s existing portfolio, creating operational and commercial synergies. Masdar completed its 100% acquisition of TERNA ENERGY in April 2025, following an initial 70% stake purchase in November 2024 that valued the company at $3.6 billion (€3.2 billion). TERNA ENERGY targets 6 gigawatts (GW) of operational capacity by 2030, backed by a $6.2 billion (€5.5 billion) investment plan. Masdar has more than 65GW of renewable energy capacity globally and aims to reach 100GW by 2030.

Masdar and Khazna Data Centers have also signed an agreement to explore green data center development in Greece. The partnership will assess dedicated clean power and storage solutions to meet rising electricity demand from artificial intelligence (AI), cloud computing, and other digital industries.

Masdar CEO Mohamed Jameel Al Ramahi highlighted that the agreements represent a significant milestone in Masdar’s European growth strategy. Masdar Chairman and UAE Minister of Industry and Advanced Technology Sultan Ahmed Al Jaber stated that the initiatives would strengthen Greece’s energy security, support its ambition to become a regional digital hub, and create investment opportunities.

Transaction pending regulatory approvals.

Context: Masdar’s expansion into Greece underscores the growing global investment in renewable energy and digital infrastructure, driven by the need for sustainable power solutions and the increasing demand for digital services. This development aligns with broader trends in the energy sector, where companies are increasingly focusing on integrating renewable energy sources with advanced technologies to meet evolving energy needs and support economic growth.