"source" She completes her acquisition on "Tirna Energy" The largest renewable energy company in Greece

Athens, May 2/ WAM/ Abu Dhabi Future Energy Company, “Source”, announced the completion of the procedures for canceling the inclusion of its company, Tirna Energy, on the Athens Stock Exchange, after completing the acquisition of “Source” last month on 100 percent of the company’s shares.

A delegation headed by His Excellency Dr. Sultan bin Ahmed Al -Jaber, Minister of Industry and Advanced Technology, Chairman of the Board of Directors, accompanied by Muhammad Jamil Al -Ramahi, CEO of the company, toured the headquarters of the “Tirna Energy” company in Athens, during which he met a number of employees from various departments.

The delegation also met Georgios Brestis, the CEO of Tirna Energy, and the discussion focused and the first since the completion of the acquisition of the “source” strategy to expand the company’s business and accelerate the deployment of renewable energy projects in the southeastern and central Europe regions.

On this occasion, His Excellency Dr. Sultan bin Ahmed Al -Jaber said that in line with the vision and directives of the leadership by building and strengthening partnerships that contribute to spreading renewable energy solutions and sustainability projects around the world, the acquisition of a “source” on “Tirna Energy” is an important step within the strategy of international growth and expansion, in Greece and other European countries, and encouraging more investments that contribute to supporting the efforts of these countries to achieve their related goals With clean energy, this acquisition also embodies the commitment of the UAE and its company “Masdar” to provide supplies of reliable and sustainable energy at an appropriate cost, and the active contribution to building a better future for all.

This deal will contribute to achieving the aspirations of “Masdar” by raising the total capacity of its global project portfolio to 100 GW by 2030 and supporting national energy plans in Greece, and the goals of the European Union to reach climate neutrality by 2050.

The Tirna Energy company aims to reach a 6 GB operating capacity by 2030, with the support of long -term “source” investments and by benefiting from its wide global experience.

For his part, Muhammad Jamil Al -Ramahi said that the completion of the cancellation of the Insert of “Terna Energy” on the Athens Stock Exchange is the beginning of an important stage that allows us to benefit more than the integrated experiences of the work teams in both companies, and to accelerate the pace of implementation of clean energy projects in Greece and various parts of the region, and the adoption of “Tirna Energy” will contribute a major platform for “Masdar”, in supporting our common goals in the field of renewable energy, He prompted efforts to achieve a qualitative shift in the energy sector at the level of the European continent.

For his part, Georgios Peritisis said that the process of canceling the “Tirna Energy” insertion on the Greek Stock Exchange after the entire “source” of it was acquired, represents an important step towards the integration of the capabilities of the two companies and the formation of a prominent platform that contributes to accelerating the pace of growth according to the desired goals by providing clean energy with local production and at an affordable cost and is now part of the “Source” family, “Tirna” is now Energy “has the capabilities that qualify it to move forward in strengthening its leadership in the Greek renewable energy sector and the whole region.

And previously canceled “Terna Energy” in the Athens Stock Exchange, the company achieved an important success during the first quarter of this year, as it continues to develop a number of prominent projects in Greece and Bulgaria, which includes the “Amfeluchia” station, one of the largest pumping electrical energy storage projects in Europe, and the first electrical energy storage project with pumping for the company “Masdar” in the region.

The company has taken a number of final investment decisions for new projects in the fields of solar energy, wind energy, and energy storage batteries with a total capacity of 250 megawatts, and it is planned that these stations will enter into operation during the next two years.

Source had acquired 70 percent of the shares of the Tirna Energy company, which is affiliated with the company, “TEK Terna” and other shareholders, in a deal worth 12.62 billion dirhams (3.2 billion euros), to be the largest deal ever in the energy sector on the Athens Stock Exchange, and one of the largest in the European renewable energy market.

Last month, the compulsory cash purchase was completely completed, according to which the remaining 30 percent of the “Tirna Energy” shares were taken at a price of 79.4 dirhams (20 euros) per share.

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