Masdar agrees to buy a 550+ MW Greek solar project from Lightsource bp (October 2026)

At a glance#

What was announced#

On 24 October 2026 Masdar said it had signed an agreement to acquire and develop a solar photovoltaic project of more than 550 MW in Greece from Lightsource bp (Masdar release). Masdar calls it one of the largest solar projects in the country. It says the plant should be operational by the end of 2026 and will produce enough electricity for more than 200,000 homes a year.

According to the release:

• Storage. Masdar plans to add battery storage to the project. No capacity or investment figure was given.
• Grid connection. The deal includes two privately owned substations that connect the project to the electricity transmission system.
• Vehicle. It is Masdar's first strategic investment made through TERNA ENERGY, which Masdar took fully private in April 2025 after buying an initial 70% in November 2024 at a valuation of €3.2bn.
• Targets. Masdar says TERNA ENERGY is targeting 6 GW of operational capacity by 2030, backed by a €5.5bn investment plan. These are company targets, not outcomes.
• Timing. Completion is subject to regulatory approval and is expected by the end of the year.

Neither Masdar nor Lightsource bp disclosed a price. We have not found a statement from Lightsource bp.

Which project it is (reported)#

Masdar's release does not name the project. Mononews reported on 26 Oct 2026 that the description matches Lightsource bp's Enipeas complex in Larissa and Fthiotida, central Greece. According to that report:

• the complex totals 560 MWp, in two parts: 400 MWp at Skopia and 160 MWp at Kallithea;
• its initial investment budget was €395.15m;
• financing closed in April 2024, with long-term loans of €315.34m, of which €170m came from the Recovery and Resilience Facility and €145.34m from Eurobank.

These details come from the press report and have not been confirmed by the parties in connection with this deal.

Data centres and the UAE investment push#

On the same day, Masdar and Khazna Data Centers signed an agreement to advance green data centre development in Greece. According to the Abu Dhabi Media Office, the partners will "explore" dedicated clean power and storage for data centres. Mononews describes it as a memorandum of understanding. No capacity, site or budget was stated, so it is not yet an investment commitment.

Both announcements came two days after the UAE–Greece Strategic Forum in Athens, where the UAE stated an intention to invest a further €15bn in Greece. The Masdar release does not say whether the solar deal counts towards that figure.

Grid rules for large data centres are part of the draft electricity market bill put to consultation on 10 October; see the data centre bill note.

Why it matters for investors in Greece#

• Asset rotation in renewables. Developers selling projects close to operation to long-term owners is a common pattern in the Greek market. This is one of the larger such sales disclosed in 2026.
• Storage alongside solar. Plans to add batteries to large solar plants are relevant to curtailment and to the evening price spikes noted in the energy investment signals note.
• Approvals to watch. Masdar refers only to "regulatory approval". Any merger filing would appear on the Hellenic Competition Commission website. We will log completion in the deals tracker once a party confirms it.

What this note does not do#

It does not estimate the price or the returns of the project, and it does not comment on any security. Figures are attributed to the company or outlet that published them.

Sources#

• Masdar: Masdar backs Greece's digital future with major solar acquisition (24 Oct 2026)
• Abu Dhabi Media Office: Masdar expands portfolio in Greece with major solar project acquisition (24 Oct 2026)
• Abu Dhabi Media Office: UAE intention to invest an additional €15bn in Greece (22 Oct 2026)
• Mononews: Masdar–TERNA ENERGY acquisition of the 560 MW Enipeas PV (26 Oct 2026, Greek)