Masdar marked a significant expansion in Europe on Friday with the 100 per cent acquisition of Greek clean energy company Terna Energy.
Abu Dhabi's clean energy company had acquired 70 per cent of Terna Energy in 2024. On Friday, the Greek company delisted from the Athens stock exchange after its full acquisition by its largest shareholder.
''With full ownership of all shares, we can fully integrate Terna Energy into our global operations and accelerate the implementation of our shared vision for renewable energy development in Greece and across wider Europe, establishing Terna Energy as our flagship platform in the region,'' said Mohamed Jameel Al Ramahi, CEO of Masdar.
''Masdar’s long-term capital and global expertise will supercharge Terna Energy, as we target a global clean energy portfolio capacity of 100GW by 2030. This acquisition underscores Masdar’s commitment to driving the energy transformation in Greece and other European countries.''
Terna Energy has projects in Bulgaria and Poland, in addition to its diversified portfolio in Greece. Of its total installed capacity of 1,224MW, 102MW are in Poland and an additional 30MW are located in Bulgaria.
It is also currently building the 680MW Afilochia project in Greece, which Terna Energy said will be one of the largest pumped hydro projects on the continent.
Terna Energy hopes to grow to 6GW by 2030.
In addition to Greece, Masdar has made large steps in expanding operations in the Iberian Peninsula, including an agreement to acquire a 49.99 per cent stake in four power plants, which have a total capacity of 446MW. The deal was made in partnership with Spanish utility company Endesa SA.
Masdar announced that same month it had bought Valle Solar, one of the largest solar projects in Spain's Valencia region. It is expected to be operation in the first half of 2027 and will have a 234MW photovoltaic plant.
The announcement came during an official visit to Greece by senior government officials and representatives from leading UAE companies.
During the visit Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, held talks with Greek Prime Minister Kyriakos Mitsotakis.
During his meeting with Mr Mitsotakis, he “reaffirmed the UAE’s commitment to strengthening bilateral co-operation and expanding it to new strategic areas of mutual interest”.
Meetings also took place with Dr Al Jaber and Kostis Hatzidakis, Deputy Prime Minister of Greece, as well as Nikos Dendias, Greek Minister for National Defence.
An announcement was also made during the visit, confirming the two countries would continue implementing the existing UAE-Greece double taxation agreement, with emphasis on a shared commitment to “a stable investment climate and deeper economic co-operation”.
The total value of non-oil trade between the UAE and Greece reached Dh2.22 billion in 2024, representing a six per cent year-on-year increase, which was fuelled by a 26.3 per cent rise in imports.
In the first quarter of 2025, trade between the two countries grew by more than 40 per cent compared to the same period the previous year, supported by a more than 140 per cent increase in exports, a 46 per cent increase in re-exports, and a 26 per cent rise in imports, Wam reported.
Over the past five years, non-oil trade between the UAE and Greece has grown by 80 per cent, with significant increases in exports (72 per cent) and imports (84 per cent).
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ABU DHABI CARD
5pm: UAE Martyrs Cup (TB) Conditions; Dh90,000; 2,200m
5.30pm: Wathba Stallions Cup (PA) Handicap; Dh70,000; 1,400m
6pm: UAE Matyrs Trophy (PA) Maiden; Dh80,000; 1,600m
6.30pm: Sheikha Fatima bint Mubarak (IFAHR) Apprentice Championship (PA) Prestige; Dh100,000; 1,600m
7pm: Sheikha Fatima bint Mubarak (IFAHR) Ladies World Championship (PA) Prestige; Dh125,000; 1,600m
8pm: Sheikh Zayed bin Sultan Al Nahyan Jewel Crown (PA) Group 1; Dh5,000,000; 1,600m
Racecard
5.25pm: Etihad Museum – Maiden (TB) Dh82,500 (Turf) 1,200m
6pm: Al Shindaga Museum – Handicap (TB) Dh87,500 (Dirt) 1,200m
6.35pm: Poet Al Oqaili – Handicap (TB) Dh95,000 (T) 1,400m
7.10pm: Majlis Ghurfat Al Sheif – Handicap (TB) Dh87,500 (D) 1,600m
7.45pm: Hatta – Handicap (TB) Dh95,000 (T) 1,400m
8.20pm: Al Fahidi – Rated Conditions (TB) Dh87,500 (D) 2,200m
8.55pm: Zabeel Trophy – Rated Conditions (TB) Dh120,000 (T) 1,600m
9.30pm: Coins Museum – Rated Conditions (TB) Dh95,000 (D) 1,600m
10.05pm: Al Quoz Creative – Handicap (TB) Dh95,000 (T) 1,000m
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blow a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
Keir Starmer failed to give her his backing as she cried but later said she would be in the job for 'a long time to come'.
A spokesman said her upset was due to a personal matter.
Killing of Qassem Suleimani
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
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Company%20profile
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Moonfall
Director: Rolan Emmerich
Stars: Patrick Wilson, Halle Berry
Rating: 3/5
Killing of Qassem Suleimani
The specs: McLaren 600LT
Price, base: Dh914,000
Engine: 3.8-litre twin-turbo V8
Transmission: Seven-speed automatic
Power: 600hp @ 7,500rpm
Torque: 620Nm @ 5,500rpm
Fuel economy 12.2.L / 100km
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
More from Rashmee Roshan Lall
UAE currency: the story behind the money in your pockets
UAE%20medallists%20at%20Asian%20Games%202023
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
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John%20Wick%3A%20Chapter%204
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MATCH INFO
What: 2006 World Cup quarter-final
When: July 1
Where: Gelsenkirchen Stadium, Gelsenkirchen, Germany
Result:
England 0 Portugal 0
(Portugal win 3-1 on penalties)
COMPANY%20PROFILE
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Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
More on animal trafficking
The five pillars of Islam
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
Haircare resolutions 2021
From Beirut and Amman to London and now Dubai, hairstylist George Massoud has seen the same mistakes made by customers all over the world. In the chair or at-home hair care, here are the resolutions he wishes his customers would make for the year ahead.
1. 'I will seek consultation from professionals'
You may know what you want, but are you sure it’s going to suit you? Haircare professionals can tell you what will work best with your skin tone, hair texture and lifestyle.
2. 'I will tell my hairdresser when I’m not happy'
Massoud says it’s better to offer constructive criticism to work on in the future. Your hairdresser will learn, and you may discover how to communicate exactly what you want more effectively the next time.
3. ‘I will treat my hair better out of the chair’
Damage control is a big part of most hairstylists’ work right now, but it can be avoided. Steer clear of over-colouring at home, try and pursue one hair brand at a time and never, ever use a straightener on still drying hair, pleads Massoud.
ESSENTIALS
The flights
Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.
The hotels
Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.
The tours
A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages.
MEDIEVIL%20(1998)
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UJDA CHAMAN
Produced: Panorama Studios International
Directed: Abhishek Pathak
Cast: Sunny Singh, Maanvi Gagroo, Grusha Kapoor, Saurabh Shukla
Rating: 3.5 /5 stars
