Masdar Acquires 550 MW Greek Solar Farm, Signs Green Data Center MoU with Khazna

Abu Dhabi Future Energy Co. – Masdar has agreed to acquire a solar power plant exceeding 550 MW in peak capacity in Greece, marking its first strategic investment through Terna Energy as the Emirati renewable energy giant expands its footprint across Southeastern and Central Europe. The facility, currently nearing completion by BP subsidiary Lightsource bp, is scheduled to become operational by the end of the year and will generate enough electricity to power more than 200,000 homes annually.

The solar farm is set to become the second-largest photovoltaic installation in Europe excluding Turkey, marginally surpassing a 550 MW facility that Public Power Corp. (PPC Group) recently commissioned in the Western Macedonia province. The transaction, whose financial terms were not disclosed, also includes two privately owned substations connecting the project to Greece's electricity transmission system. Masdar plans to enhance the facility with battery storage to support grid stability, enable greater integration of renewables and provide additional flexibility to the Greek power system.

The acquisition builds on Masdar's deepening commitment to the Greek market following its full takeover of Terna Energy. The company initially acquired a 70% stake in November 2024, valuing the Greek renewable energy firm at EUR 3.2 billion, before purchasing the remaining shares in April 2025. Masdar is targeting 6 GW of capacity for Terna Energy by 2030, backed by a EUR 5.5 billion investment plan. The transaction remains subject to regulatory approval and customary closing conditions, with completion expected by the end of this year.

Separately, Masdar signed a memorandum of understanding with Khazna Data Centers, also headquartered in the United Arab Emirates, to advance green data center development in Greece. The partnership will combine Khazna's data center development and operational capabilities with Masdar's renewable energy and energy storage expertise to explore dedicated clean power and storage solutions. Khazna is the largest wholesale and hyperscale data center provider in the Middle East and North Africa region.

The agreements were announced during the official visit of Abu Dhabi Crown Prince Khaled bin Mohamed bin Zayed Al Nahyan, as the two countries seek to expand cooperation across energy, artificial intelligence and advanced technology. As AI, cloud computing and digital industries drive rising electricity demand, access to affordable and reliable energy is becoming increasingly important to economic competitiveness. Greece's strategic location at the intersection of Europe, Africa and Asia, alongside growing investment in digital infrastructure, positions it to become an important regional hub for these industries.

"As artificial intelligence and digital industries transform the global economy, access to reliable, affordable energy will be increasingly critical to competitiveness and growth," said Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Chairman of Masdar. "Masdar's expanding renewable energy portfolio, alongside its new collaboration with Khazna, brings together two essential foundations of the future economy: clean power and digital infrastructure. Together, these initiatives will strengthen Greece's energy security, support its ambition to become a regional digital hub and unlock new opportunities for investment and economic growth."