The development of renewable energy is both a means of strengthening energy security and a critical factor in the competitiveness of European economies, according to TERNA Energy chief executive Aristotelis Chantavas. Speaking at Investopia Mediterranean – Athens on 22 October, he set out the main goal of building a leading company in the sector across the wider Eastern European region, combining the company’s expertise with Masdar’s international reach.
As he noted, Masdar’s investment of more than €3bn is not only one of the largest stock-market transactions in Greece, but also an opportunity to expand into Southeast Europe. In this context, TERNA Energy aims to become a key hub for the group’s presence in new markets.
“That is our goal: to combine TERNA Energy’s many years of experience and expertise with Masdar’s pioneering approach. Masdar is at the forefront of technological developments and is growing at an unprecedented pace worldwide,” Mr Chantavas said, stressing the aim was to harness the strengths of both sides to build a strong regional player.
Rapid expansion into new markets
The strategy is already being put into practice, with Masdar’s existing projects incorporated into the company’s portfolio. Mr Chantavas described the partnership as a significant opportunity for growth in areas where the company had not previously been present.
The ambition extends beyond the domestic market to building a company with a strong regional footprint, drawing on the international reach of its new shareholder.
The company chief also placed particular emphasis on the role of green energy generation in strengthening national self-sufficiency. He argued that domestic production reduces reliance on external sources and safeguards national systems, making it a matter of strategic importance to the economy.
Cost advantage and storage
Another advantage is that this form of generation is among the most cost-competitive options for end consumers. At the same time, technological advances in storage are helping to address the system’s flexibility challenges.
In this context, Mr Chantavas referred to the investment in the largest pumped-storage hydropower project under construction in Europe, which demonstrates that technological solutions are available to enable a greater share of clean power to be fed into the grid.
Energy storage is a critical complement, helping to make more effective use of generation and smooth out fluctuations.
Data centres and new investment in focus
Beyond the cost benefits, the company chief stressed that the rapid development of infrastructure offers a significant competitive advantage. Discussions with governments in Eastern Europe highlight the link between available power capacity and attracting new capital.
Abundant, affordable power acts as a magnet for investment in data centres and energy-intensive technologies. Delays, by contrast, lead to a loss of competitiveness.
Mr Chantavas’s message is that Europe must act more decisively, treating the energy transition not only as an environmental obligation but also as an opportunity for economic growth.