News In Brief Nov 29: Masdar Closes Deal, ADB & Gulf Sign $820 Mn Deal,

News In Brief Nov 29: Masdar Closes Deal, ADB & Gulf Sign $820 Mn Deal, UK Initiates RE Project In Philippines

By Saur News Bureau/ Updated On Fri, Nov 29th, 2024

Masdar Closes Deal to Acquire TERNA Energy To Supercharge Growth In Greece And Eastern Europe

UAE-based Abu Dhabi Future Energy Company PJSC – Masdar recently completed the acquisition of 70% of the outstanding shares of TERNA ENERGY SA (TENERGY.AT) from GEK TERNA SA (GEKTERNA.AT) and other shareholders and received all regulatory approvals. The deal, agreed for 20 euros per share, valued TERNA ENERGY at an enterprise value of 3.2bn euros, representing the largest ever energy transaction on the Athens Stock Exchange, and one of the largest in the EU renewables industry.

ADB, Gulf Sign $820 Million Loan To Scale Up Solar and Battery Storage In Thailand

The Asian Development Bank (ADB) and Gulf Renewable Energy Company Limited, a subsidiary of Gulf Energy Development Public Company Limited (Gulf), have signed an $820 million loan to provide construction financing for a portfolio of 12 renewable energy projects across Thailand. The portfolio comprises 8 ground-mounted solar photovoltaic (PV) plants with contracted capacity of 393 megawatts (MW) and 4 ground-mounted solar PV plants with battery energy storage with contracted capacity of 256 MW and 396 MW-hours of energy storage.

UK Initiates Solar Energy And Wind Farms Development In Philippines

The British Embassy in Manila announced two major milestones in the UK-Philippines renewable energy collaboration. Backed by an equity investment of $150 million, this partnership aims to expand the Philippines’ renewable energy capacity. The projects, secured offtake agreements through the Department of Energy’s Green Energy Auction Program (GEAP). On November 21, Actis celebrated the inception of the Terra Solar Project in Nueva Ecija, which is set to become the largest solar energy project in the Philippines.