Masdar Agrees to Buy 550-MW Greek Solar Project From Lightsource bp

• Masdar agreed to buy a solar project of more than 550 MW in Greece from Lightsource bp, its first deal through TERNA ENERGY.
• Masdar plans to add battery storage; the plant would equal about 4% of Greece's 13.5-GW solar goal for 2030.
• The deal needs regulatory approval and should close by the end of 2026, when the plant is due to start operating.

Masdar agreed to buy a solar project of more than 550 MW in Greece from Lightsource bp, the Abu Dhabi company said on Oct. 24. It is Masdar's first strategic investment made through TERNA ENERGY, the Greek developer it took private in 2025.

The plant is due to start operating by the end of 2026. Masdar says it will generate enough electricity for more than 200,000 homes a year and calls it one of Greece's largest utility-scale solar projects. The deal includes two privately owned substations that link the site to the transmission grid. Masdar and TERNA ENERGY did not disclose the price, the project's name or its location.

Masdar plans to add battery storage to support grid stability but gave no size or timetable.

Alongside the acquisition, Masdar signed a memorandum of understanding with Khazna Data Centers to develop green data centres in Greece. The two companies will explore dedicated clean power and storage for the country's digital infrastructure. Both deals were announced during a visit to Greece by Abu Dhabi's crown prince.

The Masdar deal in numbers

• 550+ MW of solar PV bought from Lightsource bp, with operation targeted by the end of 2026.
• 200,000+ homes' annual electricity use, by Masdar's estimate.
• 2 privately owned substations included in the transaction.
• 6 GW of operating capacity by 2030 is Masdar's regional target through TERNA ENERGY, backed by a €5.5 billion ($6.2 billion) investment plan.
• 13.5 GW of solar targeted in Greece by 2030 under its updated National Energy and Climate Plan, from 5.43 GW in 2022.
• About 4% of Greece's 2030 solar goal and 9% of Masdar's 6-GW target would come from this one project (list.solar calculation).

Masdar bought 70% of TERNA ENERGY in November 2024 in a deal that valued the company at €3.2 billion ($3.6 billion). It completed the 100% takeover in April 2025.

The project is "a high-quality solar asset that we will develop further with battery storage," Masdar Chief Executive Officer Mohamed Jameel Al Ramahi said in a statement.

The acquisition still needs regulatory approval and must meet customary closing conditions. Masdar expects to complete it by the end of 2026.