Masdar has agreed to buy a solar project of more than 550 megawatts in Greece from Lightsource bp, in a transaction the Abu Dhabi renewables company announced on 24 October 2026 during the official visit to Greece of Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi.
The company, whose registered name is Abu Dhabi Future Energy Company PJSC, describes the asset as one of the largest solar projects in Greece. The purchase includes two privately owned substations connecting the project to the transmission system, and Masdar says it intends to add battery storage to support grid stability. The project is due to become operational by the end of this year, and the acquisition is expected to complete in the same period, subject to regulatory approval and customary closing conditions. Masdar says the output will be enough to power more than 200,000 homes a year.
Two figures that have circulated in coverage of this deal are not in the release and should not be attributed to the company. Masdar does not state what stake it is acquiring, and it does not disclose a purchase price. Reports that describe the deal as an outright purchase of the whole project are supplying a fact the seller and buyer have not confirmed.
What the release does make explicit is the structural point. This is the first strategic investment Masdar has made through TERNA ENERGY, the Greek renewables group it took control of in stages: an initial 70 per cent holding in November 2024 at a valuation of 3.2 billion euros, which the company calls the largest energy transaction on the Athens Stock Exchange at that time, followed by full ownership in April 2025. The Greek acquisition therefore reads less as an opportunistic asset purchase than as the platform beginning to do the job it was bought to do.
That matters for how the rest of the programme should be read. Masdar has set a target of 6 gigawatts of operational capacity in Southeastern and Central Europe by 2030, supported by a 5.5 billion euro investment plan running through TERNA ENERGY, against a group portfolio already above 65 gigawatts and a stated pathway to 100 gigawatts by the end of the decade. A single 550 megawatt project is a small fraction of that regional target, which implies either a sequence of similar transactions or a shift toward larger assets.
Masdar separately signed a memorandum of understanding with Khazna Data Centers to advance green data centre development in Greece, which places the generation purchase alongside a prospective source of local demand rather than leaving it dependent on the merchant market.
Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and chairman of Masdar, said the two countries share a strategic partnership built on trust and long-term ambition. Mohamed Jameel Al Ramahi, chief executive of Masdar, called the agreements another important milestone in the company's European growth strategy.
