Abu Dhabi Future Energy Company, known as Masdar, has agreed to acquire and develop a solar photovoltaic project of more than 550 megawatts in Greece from Lightsource bp, the company said on Saturday.
The plant is one of the largest solar projects in Greece. It is due to start operating by the end of 2026 and will produce enough electricity for more than 200,000 homes a year, according to Masdar.
Masdar did not disclose the price.
The deal includes two privately owned substations that connect the project to the transmission grid. Masdar plans to add battery storage at the site.
The transaction is subject to regulatory approval and customary closing conditions. Masdar expects to complete it by the end of this year.
The acquisition is Masdar’s first strategic investment made through Terna Energy, the Greek renewables company it took fully private in April 2025. Masdar bought an initial 70% stake in November 2024 in a deal that valued Terna Energy at €3.2 billion.
Separately, Masdar and Khazna Data Centers signed a memorandum of understanding to explore green data center development in Greece. The partners will look at dedicated clean power and storage supply for data centers.
The agreements were announced during an official visit to Greece by Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi.
Mohamed Jameel Al Ramahi, chief executive officer of Masdar, said the solar asset would deliver stable, long-term returns. He said Masdar would develop it further with battery storage.
Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and chairman of Masdar, said access to reliable, affordable energy would become increasingly critical to competitiveness as artificial intelligence and digital industries grow.
Masdar is using Terna Energy as its platform for expansion in southeastern and central Europe and targets 6 gigawatts of operational capacity there by 2030, backed by a €5.5 billion investment plan. Masdar has more than 65 gigawatts of capacity worldwide and aims to reach 100 gigawatts by 2030.
