Masdar buys 550MW Greek solar project, targets AI power demand

Key Points

1. Masdar is acquiring a 550MW-plus solar project in Greece from Lightsource bp, pending regulatory approval.
2. The plant is due online by end-2026 and can supply more than 200,000 homes annually.
3. It is Masdar's first investment through TERNA ENERGY, its platform for Southeastern and Central Europe.

The latest:

A solar project of more than 550 megawatts is changing hands in Greece, with Abu Dhabi’s Masdar signing an agreement to acquire and develop the asset from Lightsource bp. Masdar said the plant should be operational by the end of 2026 and will generate enough electricity for over 200,000 homes a year. The deal still needs regulatory clearance.

Details:

• The asset: The photovoltaic project exceeds 550MW and ranks among the largest in Greece, according to Masdar. The company said it plans to add battery storage to support grid stability and give the Greek power system additional flexibility. The transaction also covers two privately owned substations linking the plant to the transmission network.
• The platform: Masdar described the purchase as its first strategic investment made through TERNA ENERGY, the Greek company it uses as its expansion vehicle across Southeastern and Central Europe. The solar plant is meant to complement TERNA ENERGY’s existing portfolio and create operational and commercial synergies.
• The price history: Masdar completed a 100 percent acquisition of TERNA ENERGY in April 2025, after an initial 70 percent purchase in November 2024 that valued the company at 3.2 billion euros. Masdar said that was the largest energy transaction on the Athens Stock Exchange at the time.
• The regional target: Masdar said it is targeting 6 gigawatts of operational capacity in the region by 2030, supported by a 5.5 billion euro investment plan, and aims to become one of the largest renewables developers across Southeastern and Central Europe.
• The data centre deal: In a separate agreement, Masdar and Khazna Data Centres said they would work on green data centre development in Greece, pairing Khazna’s build and operations capability with Masdar’s generation and storage expertise. The two sides said they will explore dedicated clean power solutions; no sites or timeline were announced.
• The rationale: Masdar linked the investment to electricity demand growth driven by artificial intelligence, cloud computing and digital industries, and said Greece’s position at the intersection of Europe, Africa and Asia supports its ambition to become a regional digital hub.
• The chairman: Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Masdar chairman, said the two initiatives bring together clean power and digital infrastructure as foundations of the future economy, and would strengthen Greek energy security. He framed the deal within a partnership marking more than 50 years of diplomatic ties.
• The CEO: Chief Executive Mohamed Jameel Al Ramahi called the agreements a milestone in Masdar’s European growth strategy, saying the company would develop the solar asset further with battery storage to deliver “stable, long-term returns” for shareholders and partners.
• The wider portfolio: Masdar said it holds more than 65GW of renewable capacity across solar, onshore and offshore wind, battery storage and hybrid solutions, with a stated pathway to 100GW by 2030. It is also developing what it describes as the world’s first gigascale round-the-clock renewable project in Abu Dhabi.

Background:

TERNA ENERGY is Masdar’s designated platform for Southeastern and Central Europe. The Abu Dhabi company bought in during late 2024 and took full ownership in April 2025, giving it an operating base in one of Europe’s faster-growing renewable markets before this solar acquisition.

Between the lines:

The two announcements are designed to work together. A 550MW solar plant plus battery storage creates the dispatchable supply that data centres require, while the Khazna agreement supplies the demand side. Masdar’s own framing ties both to AI-driven electricity growth, positioning the Greek assets less as standalone generation than as infrastructure for a digital economy it also intends to help build.

What’s next

The acquisition needs regulatory approval and customary closing conditions, with completion expected by the end of this year. The solar plant is due to begin operating by the end of 2026. The Khazna partnership has not yet named sites or a schedule.

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