Abu Dhabi’s state-backed renewable energy company, Masdar, is pursuing further acquisitions in Europe following its recent $3.4 billion transaction with Greece’s Terna Energy. Masdar’s Chief Executive, Mohamed Jameel Al Ramahi, emphasized that the Greece deal is part of a broader strategy to bolster the company’s presence in Europe. Masdar’s growth plan aims for a renewable energy portfolio capacity of 100GW by 2030. Al Ramahi stated that higher interest rates have brought realistic valuations back to the market, steering the industry towards more sensible deals. Beyond Greece, Masdar has ongoing projects in Serbia, Montenegro, and Poland, and is co-investing with Iberdrola in Germany’s Baltic Eagle offshore wind farm.

Renewable Energy,Middle East, Europe