The mega-deal for TERNA Energy was mentioned in his speech during the general meeting of the shares held on Thursday, G. Peristeris, head of the group.

As he emphasized, among other things, the goal was “to create the largest Greek clean energy production and storage company with a significant footprint internationally. And we succeeded.”

“It was, is and will be the company that proved that renewable energy is the future of energy for our country,” said Mr. Peristeris, while revealing that TERNA Energy had been the recipient of many different proposals in recent years.”

In another part of his speech, he characteristically stated: “It would be naive for someone to claim that TERNA Energy simply benefited from the wave of the green transition. It was, is and will be the company that proved that RES is the future of energy for our country .”

At the same time, he underlined that “TERNA Energy is a model organization that has played and will continue to play a key and leading role in the energy events of our country, being a key pillar of the national effort to transition to a future with cleaner and cheaper energy for everyone, in a better future for all who inhabit this place.”

Finally, he emphasized that “the company was created to return value: to the country’s energy system, to the national economy, to employment, to the Greek region, to its people, but also to all those who believed in it, supported it and honored it by investing in it .”

While he concluded that the deal is a vote of confidence not only in our company, but also in our country and its prospects.

In detail, the entire speech of Mr. Peristeris to the shareholders:

“I would like to welcome you to our annual general meeting. Every year on this day, we usually take stock of the past year.

At today’s general meeting, however, taking into account the pivotal development that we announced earlier today, I consider it necessary to begin by taking stock of the overall course of TERNA ENERGY.

We started almost three decades ago, at a time when green energy was met with either ignorance, indifference, or even disdain, with a vision and a goal:

– to create the largest Greek clean energy production and storage company with a significant international footprint.
And we succeeded.

TERNA ENERGY is the undisputed leader in clean energy at the national level and one of the largest RES investors in Europe.

It is not only the 2,500 MW of projects in operation, under construction and ready for construction that distinguish TERNA ENERGY.

The company, which you ladies and major shareholders supported, currently operates the largest wind farm in Greece, Kafirea with a capacity of 327 MW, and is constructing the largest energy storage project using the pumped storage method in Amfilochia.

It is the company that next autumn will realize the planning of the RES for the first energy-independent island from RES in Greece, the undeveloped island of Ai Stratis.

Also, I remind you that it is TERNA ENERGY that implemented the unique and pioneering project of Ai George, turning a rock island into a wind farm capable of supplying energy to 40,000 Greek households.

And it is TERNA ENERGY that secured one of the first two research licenses for Pilot Offshore Wind Farms in Greece, taking the first step for offshore A/P in our country.

Ladies and gentlemen,

It would be naive to claim that TERNA ENERGY simply benefited from the green transition wave.

It was, is and will be the company that proved that RES is the future of energy for our country.

TERNA ENERGY is a model organization that played and will continue to play a pivotal and leading role in the energy events of our country, being a key pillar of the national effort to transition to a future with cleaner and cheaper energy for all, to a better future for all who live in this place.

Our country is blessed with inexhaustible Renewable Energy Sources.

We were one of the first Groups to believe in a better energy future, we systematically and dynamically invested in it and worked very hard to achieve it.

For about 30 years, without losing faith in our vision, we managed to make the words “TERNA ENERGY” and “Clean Energy in Greece” almost synonymous.

And this was a terribly difficult course, especially in the first years of our effort, when few understood what we were doing and much more what we dreamed of achieving.

We have reached every corner of Greece, implementing demanding and innovative projects, with respect for the environment and local communities.

Together we realized investments of hundreds of millions of euros which:

– They protect the energy autonomy of Greece
– They offer cheaper energy for households and businesses
– They create high domestic added value
– They offer modern and well-paid jobs
– They contribute significantly to the national economy
– Stimulate growth more broadly, with the multiplier benefits our activity has across a range of other industries
– They actively support, not only through the non-negligible retributive benefits defined by the legislation, but also directly and in practice dozens of local communities throughout the territory, offering 3.5 million euros in 2023 alone
– This, ladies and gentlemen, is in our opinion the epitome of a national champion:

a company that invests here, produces here and returns many times the value it derives from its activity to the Greek economy and society.

This national champion, Greece will not simply be deprived of him, following the agreement we announced, but will see him grow, distinguish himself internationally and offer even greater value to our country.

And we will be here, management and employees of TERNA ENERGY to contribute to this.

Ladies and gentlemen shareholders,

TERNA ENERGY had been the recipient of many different proposals in recent years.

You have heard me say many times and from the floor of this general assembly three things:

– That we will inform you fully, in detail and transparently when there is something specific
– That any agreement reached will guarantee the future of TERNA ENERGY and its employees
– That the red line for us is the safeguarding of the interests of all the company’s shareholders

I realize that two years ago this very laconic triptych of our commitments might not have seemed enough.

But today, dear shareholders, we stand here in front of you at the general meeting – the highest manifestation of good corporate governance and accountability – having fully implemented all three commitments we made.

We have officially announced all the details of the transaction and today in front of the entire investment community and members of the press, we are here to answer your questions.

We reached an agreement with Masdar, a very large international company dedicated to clean energy, which wants to take TERNA ENERGY even higher, implementing the investment plan for 6 GW of installed capacity by 2030.

We are proceeding with a transaction that assumes from the beginning that after the relevant approvals a Public Offer will follow, ensuring the interests of all and not just some of the shareholders of TERNA ENERGY.

Especially the latter, it may not be a common practice in the Greek market, but for us it is a must.

TERNA ENERGY was created to return value: to the country’s energy system, to the national economy, to employment, to the Greek region, to its people, but also to all those who believed in it, supported it and honored it by investing in it.

So, to all of you, ladies and gentlemen, shareholders, TERNA ENERGY has offered a total of more than 300 million euros in dividends and capital returns throughout its history to date, while after the successful completion of the public offer, 100% of the company’s share capital will have collected 2.4 billion euros, in addition to the dividend distribution that you are asked to approve today.

The deal we achieved is the largest energy deal ever made on the Athens Stock Exchange, but also the largest acquisition that Masdar has made internationally to date, valuing the enterprise value of TERNA ENERGY at 3.2 billion euros.

And of course, it is an agreement that is a vote of confidence not only in our company, but also in our country and its prospects.

Ladies and gentlemen shareholders,

In closing, I would first of all like to thank Mr. Maragoudakis, my fellow traveler throughout this long journey of TERNA ENERGY, as well as all the management and employees of our company, for the struggle they put up every day.

Warm thanks also to those who worked and contributed to the completion of the agreement,

And of course to you ladies and gentlemen shareholders for your dedication to TERNA ENERGY and your unwavering trust in us.

Thank you.”