# Masdar agrees to acquire Greek solar project above 550 MW > The UAE company’s planned acquisition from Lightsource bp remains subject to approval; battery storage is planned but not specified. - Canonical URL: https://newsverum.com/en/news/masdar-agrees-to-acquire-550mw-greek-solar-project - Publisher: Newsverum - Section: Energy - Country: United Arab Emirates - Published: 2026-10-25T02:27:51+00:00 - Updated: 2026-10-25T02:27:51+00:00 - Event / data period: 2026-10-24 - Other editions: [Türkçe](https://newsverum.com/tr/news/masdar-agrees-to-acquire-550mw-greek-solar-project.md), [العربية](https://newsverum.com/ar/news/masdar-agrees-to-acquire-550mw-greek-solar-project.md), [Français](https://newsverum.com/fr/news/masdar-agrees-to-acquire-550mw-greek-solar-project.md), [Español](https://newsverum.com/es/news/masdar-agrees-to-acquire-550mw-greek-solar-project.md), [Deutsch](https://newsverum.com/de/news/masdar-agrees-to-acquire-550mw-greek-solar-project.md), [Português](https://newsverum.com/pt/news/masdar-agrees-to-acquire-550mw-greek-solar-project.md) Abu Dhabi Future Energy Company, or Masdar, signed an agreement on October 24 to acquire and develop a solar project in Greece with capacity above 550 megawatts, according to Emirates News Agency. The seller is Lightsource bp. Masdar said the plant is scheduled to become operational by the end of 2026 and is expected to generate enough electricity to serve more than 200,000 homes a year. The transaction remains subject to regulatory approval and customary closing conditions, so the announcement describes a planned asset purchase rather than a completed transfer or operating plant. The project is photovoltaic solar and will include two privately owned substations connecting it to Greece’s electricity transmission system. Masdar said it plans to add battery storage, but did not specify the storage capacity, duration or project cost. The company said storage is intended to support grid stability and give the Greek power system more flexibility to integrate renewable generation. Those are the stated purposes of the planned addition; the release did not provide a commissioning schedule or quantified system benefit for the batteries. Masdar also announced a separate memorandum with Khazna Data Centers to explore green data-centre development in Greece. The companies will consider dedicated clean-power and storage solutions for digital infrastructure. The memorandum is exploratory: the announcement identifies no site, capacity, investment amount, construction timetable or final commitment. The two announcements connect a prospective renewable asset with a possible demand-side partnership, but they remain separate transactions at different stages. The solar acquisition would be Masdar’s first strategic investment through TERNA ENERGY, its platform for expansion in south-eastern and central Europe. Masdar completed its full acquisition of TERNA ENERGY in April 2025 after first buying a 70% stake in November 2024; that earlier transaction valued the company at €3.2 billion. Masdar said TERNA ENERGY is targeting 6 gigawatts of operational capacity by 2030, backed by an investment plan of €5.5 billion. These are company targets and a plan, not capacity already delivered by the Greek solar project. Masdar said its wider renewable portfolio exceeds 65 gigawatts across solar, onshore and offshore wind, battery storage and hybrid systems, and that it has a pathway to 100 gigawatts by 2030. These are company-wide figures and goals, distinct from the more-than-550-megawatt Greek asset. The announcement also situates the project alongside rising electricity needs from artificial intelligence, cloud computing and digital industries, though it does not assign a quantified share of Greek demand to data centres. For the Greek project, the near-term milestones are regulatory clearance, transaction completion and development work before the stated year-end operating target. Masdar did not disclose the purchase price, the identity of the specific project site, expected annual megawatt-hours or a battery specification. The home figure is an equivalent supplied by the company, not a count of households already connected to the plant. This distinction matters while the acquisition and development remain prospective. The agreement reflects an Abu Dhabi-based company placing capital into renewable generation outside the UAE, while the separate Khazna memorandum explores a link between clean electricity and data-centre growth in Greece. The source describes strategic intent and development plans; it does not establish that the acquisition has closed, that storage is installed, or that the potential data-centre partnership has moved to a final investment decision. ## Data ### Announced attributes of the Greek solar project Project capacity, the company’s annual household equivalent and connection infrastructure stated by Masdar. Methodology: Masdar and WAM state capacity above 550 MW for the Greek project and an annual household equivalent above 200,000. Numeric cells preserve the lower bounds and the note column preserves their qualifications. Capacity is an announced design specification and the household equivalent is the company estimate, not measured electricity output or installed UAE capacity. Operation is targeted for end-2026. | Project | Location | Solar capacity (MW) | Annual household equivalent (count) | Private substations (count) | Qualifier | |---|---|---|---|---|---| | Lightsource bp Greek solar photovoltaic project | Greece | 550 | | | Above 550 MW; announced lower bound. Target operation: end-2026. | | Lightsource bp Greek solar photovoltaic project | Greece | | 200000 | | Enough electricity for more than 200,000 homes a year; company-stated equivalent. | | Lightsource bp Greek solar photovoltaic project | Greece | | | 2 | For transmission-system connection; exact count. | Sources: · Download data: [JSON](https://newsverum.com/api/v1/articles/masdar-agrees-to-acquire-550mw-greek-solar-project/data/masdar-greece-solar-announcement?lang=en&format=json) · [CSV](https://newsverum.com/api/v1/articles/masdar-agrees-to-acquire-550mw-greek-solar-project/data/masdar-greece-solar-announcement?lang=en&format=csv) ## Sources - [Emirates News Agency (Masdar)]() (Source checked: 2026-10-25; Published: 2026-10-24) - [Abu Dhabi Media Office]() (Source checked: 2026-10-25; Published: 2026-10-24) --- Cite the canonical URL above. [Editorial standards and corrections](https://newsverum.com/en/editorial)