Abu Dhabi Future Energy Co. – Masdar agreed to buy a solar power plant of more than 550 MW in Greece. The facility is nearing completion, and the green energy giant intends to add battery storage. Separately, it signed a memorandum of understanding with Khazna Data Centers, also based in the United Arab Emirates, on advancing green data center development in Greece.
BP’s subsidiary Lightsource bp is finishing the installation of a photovoltaic system of more than 550 MW in peak capacity in Greece. It is set to become the second-largest in Europe excluding Turkey, apparently a tad ahead of a 550 MW facility that Public Power Corp. (PPC Group) recently commissioned in the Western Macedonia province.
The facility is scheduled to become operational by the end of the year and generate enough electricity to power more than 200,000 homes a year. Lightsource bp has just sold the solar farm to Abu Dhabi Future Energy Co. – Masdar for an undisclosed price.
According to the buyer, headquartered in the UAE, it would strengthen Greece’s clean energy infrastructure and support its ambitions as a European digital hub, while deepening the bilateral strategic partnership.
The agreement was announced during the official visit by Abu Dhabi Crown Prince Khaled bin Mohamed bin Zayed Al Nahyan, as the two countries seek to expand cooperation across energy, artificial intelligence (AI) and advanced technology.
Bolstering Greece’s digital economy
As AI, cloud computing and digital industries drive rising electricity demand, access to affordable, reliable energy is becoming increasingly important to economic competitiveness, Masdar pointed out. Greece’s strategic location at the intersection of Europe, Africa and Asia, alongside growing investment in digital infrastructure, positions it to become an important regional hub for these industries, the update reads.
Masdar plans to enhance the giant solar park with battery storage
The company said the PV plant would support meeting electricity demand growth in Greece driven by AI and digital infrastructure.
Masdar plans to enhance the facility with battery storage. This addition will support grid stability, enabling greater integration of renewables and providing additional flexibility to Greece’s power system. The transaction will also include two privately owned substations connecting the project to the electricity transmission system.
Building on Masdar’s acquisition of Terna Energy
The acquisition is Masdar’s first strategic investment made through Terna Energy and part of an expansion in Southeastern and Central Europe. It bought the rest of the Greek company in April 2025, following the initial 70% in November 2024 that valued the company at EUR 3.2 billion.
Masdar is targeting 6 GW by 2030 for Terna Energy, backed by a EUR 5.5 billion investment plan.
The acquisition transaction remains subject to regulatory approval and customary closing conditions and is expected to be completed by the end of this year.
Partnership for clean power for data centers, including storage
Separately, Masdar and Khazna Data Centers signed a memorandum of understanding to advance green data center development in Greece, combining the latter’s data center development and operational capabilities with Masdar’s renewable energy and energy storage expertise. The partnership is for exploring dedicated clean power and storage solutions.
UAE-based Khazna is the largest wholesale and hyperscale data center provider in the Middle East and North Africa (MENA) region.
Al Jaber: UAE is commited to building enduring international partnerships that power the industries of tomorrow and deliver lasting prosperity
“As artificial intelligence and digital industries transform the global economy, access to reliable, affordable energy will be increasingly critical to competitiveness and growth. Masdar’s expanding renewable energy portfolio, alongside its new collaboration with Khazna, brings together two essential foundations of the future economy: clean power and digital infrastructure. Together, these initiatives will strengthen Greece’s energy security, support its ambition to become a regional digital hub and unlock new opportunities for investment and economic growth. They also reflect the UAE’s commitment to building enduring international partnerships that power the industries of tomorrow and deliver lasting prosperity,” said the UAE’s Minister of Industry and Advanced Technology and Chairman of Masdar Sultan Ahmed Al Jaber.
The company is developing the world’s first gigascale round-the-clock renewable energy project in Abu Dhabi, transforming renewable energy into a true, dispatchable resource that can deliver baseload power.
