Terna Energy

What Terna Energy does

Terna Energy S.A. (ΤΕΡΝΑ ΕΝΕΡΓΕΙΑΚΗ ΜΟΝΟΠΡΟΣΩΠΗ ΑΒΕΤΕ) is a Greek-headquartered renewable energy independent power producer founded in 1997 and headquartered at 85 Mesogeion Avenue, Athens. It develops, constructs, and operates utility-scale wind, solar photovoltaic, hydroelectric, pumped storage, biogas, and hybrid renewable assets across Greece, Bulgaria, Poland and the USA, with 1,225 MW installed at end-2023, a 2,500 MW pipeline, and a stated target of 6 GW by 2029 funded by a €5.5 billion investment plan. Core technology includes a proprietary Energy Management and Control System for Hybrid Islands and offshore-grade onshore wind engineering, with flagship assets spanning the 330 MW Kafireas wind complex, the 73.2 MW Agios Georgios island wind farm connected via a 36.2 km subsea cable, and the 680 MW/730 MW Amfilochia pumped storage project (an EU Project of Common Interest, PCI 3.24). Revenue is generated primarily through long-term power purchase agreements and grid sales with national utilities and corporate offtakers, supplemented by EPC construction services inherited from the legacy GEK TERNA Group and PPP-based fees from urban digital-transport infrastructure (Hellas Smarticket in Athens; Indigital/AMCO JV in Thessaloniki). Since April 10, 2025 the company has been wholly owned by Masdar (Abu Dhabi Future Energy Company), transitioning from public listing to private operation under TAQA/Mubadala/ADNOC-backed ownership.

Name

Terna Energy

Legal name

ΤΕΡΝΑ ΕΝΕΡΓΕΙΑΚΗ ΜΟΝΟΠΡΟΣΩΠΗ ΑΒΕΤΕ

Website

https://terna-energy.com

Company type

Private

Founded year

1997

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Terna Energy is a Greek-headquartered renewable energy independent power producer founded in 1997, developing and operating utility-scale wind, solar, hydro, pumped storage and hybrid assets across Greece, Bulgaria, Poland and the USA; since April 2025 it has been wholly owned by Masdar (Abu Dhabi), targeting 6 GW by 2029.

Ownership category

akta.pro rank

Product category

Renewable Energy Generation

NAICS

Electric Power Generation (22111), Wind Electric Power Generation (221115), Solar Electric Power Generation (221114), Hydroelectric Power Generation (221111), Electric Bulk Power Transmission and Control (221121)

SIC

Electric Services (4911)

akta.pro primary industry

Solar Project Development & IPP (Utility-Scale & Rooftop) (EUAMABAA)

akta.pro secondary industries

Wind Power Plant EPC (Onshore/Offshore) (EUAEAAAF), Solar PV Power Plant EPC (Utility-Scale) (EUAEAAAG), Hydropower Plant EPC (Dam, Run-of-River, Pumped Hydro Civil Works) (EUAEAAAD), Substation & Interconnection EPC (Collector/POI Substations, Switchyards) (EUAEADAC), Transmission Interconnection & Line Works (Gen-Tie Lines, Overhead/Underground Lines) (EUAMAFAF)

Keywords

• Renewable energy generation
• Wind power projects
• Solar photovoltaic projects
• Pumped storage systems
• Hybrid energy solutions

Headquarters

HQ city

Mesógeion

HQ country

Greece

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Technology or R&D, Personnel, Supply Chain, Marketing or Sales

Revenue model

1. Renewable Energy Generation & Sale: Terna Energy develops, constructs, and operates renewable energy projects (wind, solar, hydro, pumped storage, biogas) and sells the electricity generated through long-term power purchase agreements (PPAs) and merchant power sales to the grid. This is the primary revenue stream.
2. EPC (Engineering, Procurement & Construction) Services: As part of the GEK TERNA Group, Terna Energy provides construction services for renewable energy projects, including its own portfolio and third-party projects. The construction segment is subject to significant fluctuations tied to the renewal of the construction backlog.
3. ICT / Smart City Infrastructure (PPP Projects): Through PPP joint ventures (e.g., Hellas Smarticket for Athens e-ticketing at €58.8M, and a €30M Thessaloniki project), Terna Energy earns fees for designing, installing, and managing digital infrastructure for urban transport systems over contract periods.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

Terna Energy is a Greek renewable energy independent power producer (IPP) that develops, constructs, and operates utility-scale wind, solar photovoltaic, hydroelectric, pumped storage, hybrid, and biogas projects, selling the electricity generated under long-term power purchase agreements (PPAs) and grid sales to utilities, corporate buyers, and the Hellenic national grid. It also provides EPC construction services for renewable projects and operates PPP-based digital fare-collection infrastructure for Greek urban transport. The portfolio totals 1,225 MW in operation with a 2,500 MW pipeline, and the company targets 6 GW of installed RES capacity by 2029 under a €5.5 billion investment plan.

Product overview

Terna Energy operates as a diversified renewable energy company with a portfolio of 2,500 MW in operation, under construction, and ready for construction. The company offers wind energy projects (including flagship Kafireas 330 MW and Agios Georgios island 73.2 MW), solar/photovoltaic installations (550 MW), pumped storage (Amfilochia 680 MW), hydroelectric projects, hybrid systems (Ai Stratis energy-independent island), biogas/waste management, and ICT digital transport solutions (e-ticket systems). The 5.5 billion euro investment plan supports 6 GW renewable capacity target by 2029. On April 10, 2025, Abu Dhabi's Masdar completed 100% acquisition of Terna Energy for 3.2 billion euros.

Differentiator

Problem solved

Functional benefit

Products and services

• Wind Energy Projects Onshore wind farm development, construction, and operation across Greece, Bulgaria, Poland, and the USA. Portfolio ranges from small-scale installations (e.g., Tsilikoka 10.2 MW) to large-scale flagship complexes (Kafireas 330 MW, Agios Georgios island 73.2 MW).
• Solar Energy / Photovoltaic Projects
• Amfilochia Pumped Storage System Largest pumped storage investment in Greece with 680 MW generation and 730 MW pumping capacity. Features two upper reservoirs (Agios Georgios ~5 million m³ and Pyrgos ~2 million m³) using the existing Kastraki lake as the lower reservoir, with investment exceeding €600 million and annual energy production of approximately 816 GWh.
• Hydroelectric Projects
• Ai Stratis Hybrid Energy System Hybrid renewable energy system on Agios Efstratios island combining a 0.9 MW wind turbine, 0.2268 MW photovoltaic station, 2.56 MWh battery storage, and thermal energy production with distribution network, achieving 85%+ renewable penetration and eliminating diesel dependency.
• Kafireas Wind Park
• Agios Georgios Island Wind Park 73.2 MW autonomous wind power plant on Agios Georgios island, connected to the mainland grid via 36.2 km submarine cable at depths up to 223 metres, with €150 million investment and power for over 40,000 households annually.
• E-Ticket Digital Transport Systems (PPP) Public-private partnership automated fare collection and telematics systems delivered to OASA in Athens (€58.8M construction, contract to May 2027) and to OASTH/TheTA in Thessaloniki (€30M budget) for digital urban transport operations.
• Biogas / Waste Management Projects Biogas production and waste management projects contributing to circular economy objectives and renewable energy generation as part of Terna Energy's diversified portfolio.

Quantifiable outcome

• On Agios Georgios wind farm: avoids over 180,000 tonnes of CO₂ emissions and over 60,000 tonnes of oil consumption annually; generates enough electricity for 40,000+ Greek households.
• +4 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered minor and core.

• National Technical University of Athens (NTUA) / CRES (Centre for Renewable Energy Sources)minorStrategic or Co-development PartnerTechnical advisory and research partnerships for the Amfilochia pumped storage project and the Agios Efstratios (Ai Stratis) hybrid island project. CRES (CAPE) was the project originator for the Ai Stratis hybrid system, with Terna Energy acting as the EPC contractor.
• Hellas Smarticket A.E.coreStrategic or Co-development PartnerPPP joint venture (SCSP) for Athens e-ticketing and telematics: Terna Energy 35%, GEK TERNA 35%, LG CNS 30%. Designed, installed, and operates the automated fare collection system for Athens Urban Transport Organization (OASA) at a construction cost of €58.8 million, with OASA co-funding 49% (€28.8M) via NSRF. Contract runs until May 2027.
• Indigital / AMCO (Thessaloniki PPP JV)coreStrategic or Co-development PartnerPPP joint venture for Thessaloniki digital transport transformation: Terna Energy 70%, Indigital 15%, AMCO 15%. Project value €30 million covering digital transformation, telematics, and unified automated fare collection for OASTH/TheTA. Financed by the Ministry of Digital Policy.
• GEK TERNA GroupcoreStrategic or Co-development PartnerTerna Energy was originally founded as a member of the GEK TERNA Group and operated within the group structure until Masdar's 100% acquisition in April 2025. GEK TERNA retains a 35% stake in Hellas Smarticket (the Athens e-ticketing PPP).
• Vestas Wind Systems A/ScoreTechnology or IntegrationVestas is the primary wind turbine supplier for Terna Energy's wind farms. Notable installations include Agios Georgios island (23 turbines: 9x V90 3.0 MW + 14x V112 3.3 MW), Kafireas wind complex, and others across Greece, Bulgaria, Poland, and the USA.
• Data Protection Authority (APDPA / ΑΠΔΠΧ)minorOthersTerna Energy's data protection policy identifies the Hellenic Data Protection Authority (APDPA) as the supervisory authority for GDPR compliance matters.
• Subsidiaries and affiliated companies of Masdar and GEK TERNAminorOthersTerna Energy's privacy policy notes that it shares personal data within the Masdar and GEK TERNA group of companies for internal administration, consolidated financial monitoring, and shared services purposes.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Encavis AG: German onshore wind and solar IPP owning and operating a multi-gigawatt portfolio across Europe under long-term fixed-price PPAs. Comparable to Terna Energy as a Europe-focused, asset-heavy renewable operator with similar multi-technology strategy.
• Voltalia: French renewable IPP with operations across wind, solar, hydro, and storage in Europe, Latin America, and Africa. Closely comparable to Terna Energy as a multi-technology IPP/project developer with both European and emerging-market exposure under PPAs.
• Solaria Energía y Medio Ambiente: Spanish solar IPP developing and operating utility-scale photovoltaic projects across Spain, Portugal, Italy, and Greece. Comparable to Terna Energy's solar development and PPA-driven model and directly overlaps in the Greek/SEE solar market.
• Acciona Energía: Spanish wind and solar IPP/developer with multi-gigawatt operational capacity across wind, solar PV, and storage across Europe, Latin America, and Australia. Closely comparable business model to Terna Energy as a publicly-traded European multi-technology renewable IPP with both project development and merchant exposure.
• Akuo Energy: French independent renewable power producer developing wind, solar, biomass, and storage projects across Europe, the Caribbean, and the Indo-Pacific. Comparable to Terna Energy as a diversified renewable IPP focused on project development and hybrid configurations.
• Sonnedix: Global solar IPP owned by JP Morgan's infrastructure funds, operating a multi-gigawatt PV portfolio across Europe (including Italy, Spain, Portugal, Greece, Poland). Comparable to Terna Energy's solar IPP and PPA business model in overlapping geographies.
• EDP Renováveis (EDPR): Portuguese-headquartered wind and solar IPP with a large European and North American footprint, developing and operating utility-scale renewable projects under long-term PPAs. Highly comparable to Terna Energy's diversified wind/solar development model and PPA-based revenue structure.

Broad incumbents

• Iberdrola: Global Spanish utility with one of the world's largest renewable generation portfolios (wind onshore/offshore, solar, hydro, storage). Comparable to Terna Energy as a major European multi-technology renewables operator and grid-balancing asset owner, though vastly larger and more diversified across geographies and regulated activities.
• Enel Green Power: Italian-headquartered renewables arm of Enel Group, one of the world's largest wind, solar, hydro, and geothermal operators. Comparable to Terna Energy as a multi-technology renewable IPP with strong Mediterranean and European footprint, though operating at much larger scale and within a vertically-integrated utility.

Regional players

• Mytilineos (Metlen Energy & Metals): Greek industrial and energy conglomerate with significant renewable energy development (Mytilineos Renewables) and EPC capabilities in Greece and SEE. Comparable to Terna Energy as the most direct Greek-headquartered peer with overlapping wind/solar development footprint and access to the same Greek off-takers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCnqV8PFvfnYMIr-15Z6199g?view_as=subscriber
• Facebookfacebook.com/ternaenergy
• LinkedInlinkedin.com/company/5153445/admin
• Instagraminstagram.com/ternaenergy/?hl=el

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Terna Energy