At the extraordinary general meeting of our Group, with the exclusive subject of approving a transaction with Masdar, for the sale of the last percentage held by GEK TERNA to the subsidiary TERNA ENERGY, for the amount of 20 euros per share, the president and CEO spoke of GEK TERNA, Giorgos Peristeris,
Among other things, he emphasized that the completion of the transaction will bring additional liquidity of 900 million euros to the Group’s coffers, while at the same time the financial profile of GEK TERNA will be further improved, as related borrowing of 1.1 billion euros will be removed.

The entire speech of Giorgos Peristeris:

It is important to emphasize that the above agreement foresees the possibility of GEK TERNA’s participation in the new generation of investments in the production and storage of clean energy that TERNA ENERGY will implement in the future, such as, among others, pumped storage projects and offshore wind farms. This participation will maintain our investment presence in promising new energy infrastructure sectors, while also working to the benefit of our subsidiary TERNA which maintains a leading role in the construction of key energy projects.

Let me reiterate, because it is of great importance to understanding how we move forward, that this transaction is not an isolated move. It is part of a wider strategic plan, which has been developing for years and which aims to make GEK TERNA a dominant force in the field of infrastructure of all kinds at the European level.

And our effort is paying off. GEK TERNA has indeed achieved a leading position in the fields of construction and concessions, now having in its portfolio projects and infrastructures of great value, which ensure an even better future for our employees, partners and of course our shareholders, all of you.

In the field of transport infrastructure, we secured a leading role in the BOAK project, which is the largest motorway project in Europe at this time. We are also enriching our portfolio with new waste management projects in the region of Western Macedonia with a total budget of 450 million euros and a capacity of more than 300,000 tons that make the Group a protagonist and in
this part of the market in combination with the Epirus and Peloponnese projects, which are already in operation.
And in addition, as we informed you at an unsuspecting time, we are also expanding into water resources management projects, to which we have dynamically focused our interest, recording the first successful results.

Looking ahead, the Concessions sector’s contribution to the Group’s financial performance will increase significantly in the coming periods with the commercial operation of various new projects. This has already started with the earlier than expected start of the Attica Road concession.

Let me at this point emphasize that what has been achieved, namely the completely smooth transition of the motorway from the previous concessionaire to our Group, was a very difficult and complex undertaking that was completed in just a few days, while it was initially planned to be done within five months. I do not believe that any other Group besides GEK TERNA could achieve this. And for that, our executives deserve warm congratulations for achieving this feat.
Ladies and gentlemen shareholders,
Our programming doesn’t stop here. We are constantly preparing for new projects coming to Greece and abroad, aiming to expand and diversify our portfolio. We remain true to this path of dynamic growth and committed to
reward your trust.