200,000 Greek Homes to Get Clean Power in Solar Deal

More than 200,000 Greek homes a year stand to receive clean power under a deal that hands one of the country’s largest solar projects to Abu Dhabi’s Masdar, with planned battery storage adding flexibility to a national grid under growing pressure.

Abu Dhabi Future Energy Company PJSC, known as Masdar, has signed an agreement to acquire and develop the 550+ megawatt solar photovoltaic project from Lightsource bp. The facility is expected to become operational by the end of 2026. Its planned integration of battery storage is intended to support grid stability, allow greater integration of renewables, and provide additional flexibility to Greece’s power system. The transaction also includes two privately owned substations connecting the project to the electricity transmission system.

For households and businesses, the stakes are everyday ones. As artificial intelligence, cloud computing and digital industries drive rising electricity demand, access to affordable and reliable energy is becoming increasingly important to economic competitiveness. The project is designed to help meet that demand growth while supporting Greece’s clean energy objectives.

The announcement came during the official visit to Greece by His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, as the two countries mark more than 50 years of diplomatic relations and seek to expand cooperation across energy, artificial intelligence and advanced technology.

Meanwhile, a second agreement touches the same public concern from another angle. Masdar and Khazna Data Centers signed a Memorandum of Understanding to advance green data center development in Greece, combining Khazna’s data center development and operational capabilities with Masdar’s renewable energy and energy storage expertise. The partners will explore dedicated clean power and storage solutions to support the country’s growing digital infrastructure needs, and describe the collaboration as creating significant opportunities for investment, economic growth and energy security.

Greece’s position at the intersection of Europe, Africa and Asia, together with growing investment in digital infrastructure, underpins both agreements and its potential role as a regional hub for digital industries.

His Excellency Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Chairman of Masdar, framed the initiatives as serving Greece’s broader interests. He said the UAE and Greece share a strategic partnership built on trust, long-term ambition and a commitment to mutual prosperity, and that as artificial intelligence and digital industries transform the global economy, access to reliable, affordable energy will be increasingly critical to competitiveness and growth. The initiatives, he added, will strengthen Greece’s energy security, support its ambition to become a regional digital hub, and unlock new opportunities for investment and economic growth.

Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said the agreements represent another important milestone in the company’s European growth strategy, expanding its portfolio with a high-quality solar asset that will be developed further with battery storage. He noted that the collaboration with Khazna explores opportunities to power Greece’s growing digital economy with clean energy, and that through TERNA ENERGY the company is building a stronger renewable energy platform in Greece and the wider region.

The acquisition is Masdar’s first strategic investment made through TERNA ENERGY, the platform through which it is expanding across Southeastern and Central Europe. Masdar completed its 100 per cent acquisition of TERNA ENERGY in April 2025, following an initial 70 per cent acquisition in November 2024 that valued the company at €3.2 billion, at the time the largest energy transaction on the Athens Stock Exchange. Masdar is targeting 6 gigawatts of operational capacity by 2030, backed by a €5.5 billion investment plan, and aims to become one of the largest renewables developers in the region.

Globally, Masdar has built one of the world’s fastest-growing renewable energy portfolios, with more than 65GW of capacity across solar, onshore wind, offshore wind, battery storage and hybrid solutions, and a pathway to 100GW by 2030. It is also developing the world’s first gigascale round-the-clock renewable energy project in Abu Dhabi.

The transaction remains subject to regulatory approval and customary closing conditions, and is expected to be completed by the end of this year. Whether the added capacity arrives in time to ease the demand pressures building on Greek households and businesses will be the question to watch through 2026.