“The Jatigede project will be a strong addition to our collaboration with PLN and its development, along with the expansion of our already record-breaking Cirata project, will enable us to build on our expertise in developing floating solar projects,” said Mohamed Jameel Al Ramahi, CEO of Masdar.
After taking a 70% stake in Terna Energy in December 2024 at EUR 20 per share in a deal that valued the company at EUR 3.2 billion, Masdar has acquired the remaining 30%, also at EUR 20 per share. Upon completion of the transaction, Terna’s shares will be delisted from the Athens Stock Exchange.
The three companies said in a joint media release that under the Framework for Action agreement, Masdar and TotalEnergies will strengthen their cooperation to provide reliable and sustainable electricity to local communities in Africa and support its long-term energy systems transformation, and jointly develop new clean energy opportunities in Southeast Asia.
UAE state-owned renewable energy company Masdar will develop a new solar and battery storage park capable of delivering 1 GW of uninterrupted renewable energy, the company announced on Tuesday.
Emirati state-owned renewables giant Masdar has completed the acquisition of 70% of the outstanding shares of Greek renewable energy company Terna Energy, Masdar announced on Thursday.