Abu Dhabi-based Masdar has agreed to acquire a solar power project with a capacity of around 560 MW in Greece from Lightsource bp. The project is nearing completion and is expected to become operational by the end of 2026. Masdar also plans to add battery storage and has signed a memorandum of understanding with Khazna Data Centers to explore the development of green data centers in the country.
The Enipeas solar project is located in central Greece and was developed by Lightsource bp, with construction carried out by Ameresco Sunel Energy. Once operational, it is expected to generate enough electricity to power more than 200,000 homes annually.
The acquisition remains subject to regulatory approval and customary closing conditions. Financial details of the deal have not been disclosed.
Masdar plans to add battery storage to the facility to improve grid flexibility, support renewable energy integration and help manage changes in electricity supply. The project also includes two privately owned substations connecting it to the electricity transmission system.
The acquisition is part of Masdar’s wider expansion in Greece and Southeastern Europe, following its takeover of Greek renewable energy company Terna Energy. Masdar acquired an initial 70% stake in the company in November 2024, in a deal that valued it at €3.2 billion, before completing the acquisition of the remaining shares in April 2025.
Masdar aims to expand Terna Energy’s capacity to 6 GW by 2030, supported by a €5.5 billion investment plan. The latest deal adds to its renewable energy portfolio and strengthens its position in the Greek market.
Separately, Masdar and Khazna Data Centers have signed a memorandum of understanding to explore green data center development in Greece. The partnership will combine Khazna’s expertise in data center development and operations with Masdar’s experience in renewable energy and storage.
According to Greek energy news outlet Energypress, the companies are planning data centers with a combined maximum electricity consumption of 600 MW, supported by 2.4 GW of renewable energy capacity. The partnership will explore dedicated clean power and storage solutions to meet the facilities’ electricity needs.
The plans come as demand for electricity rises alongside investment in artificial intelligence, cloud computing and other digital infrastructure.
The projects reflect Greece’s efforts to expand renewable energy while attracting investment in energy-intensive digital industries. Battery storage could help improve the flexibility of the power system, while dedicated renewable energy supplies could support the growing electricity needs of data centers.
However, the data center plans remain at the memorandum of understanding stage, and the solar acquisition has yet to be completed. Their progress will determine how much additional renewable capacity and digital infrastructure these investments deliver to Greece.
