Masdar agrees to buy 550+ MW Greek solar project from Lightsource bp

Masdar agreed to acquire and develop a 550+ MW solar photovoltaic project in Greece from Lightsource bp, with plans to add battery storage to support grid stability and power-system flexibility.

ESG News reported the deal on Oct. 26. The plant is due to start operating by the end of 2026 and will produce enough electricity to power more than 200,000 homes a year. The transaction includes two privately owned substations linking the project to the electricity transmission system, and Masdar calls the project one of Greece's largest solar projects.

For allocators weighing Greek solar, the announcement gives capacity, storage scope and an operating date but not the economics. The report says Masdar did not disclose the purchase price, the offtakers or any impact on employees. What a buyer of a project this size would normally price first, a power price or a contract length, is absent from the announcement.

The deal was announced during a visit to Greece by Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi; the UAE and Greece are marking more than 50 years of diplomatic relations. Masdar says the project will help meet Greek electricity demand growth driven by artificial intelligence and digital infrastructure.

Separately, Masdar and Khazna Data Centers signed a memorandum of understanding on green data centre development in Greece, pairing Khazna's data centre development and operating skills with Masdar's renewable energy and storage expertise. The partners will explore dedicated clean power and storage for Greece's digital infrastructure. Dr Sultan Ahmed Al Jaber, the UAE's minister of industry and advanced technology and Masdar's chairman, said access to "reliable, affordable energy" will be increasingly critical to competitiveness and growth as AI and digital industries transform the global economy.

Elsewhere, Trentar plans a $3 billion renewables-powered data centre in India, as ESG Capital Daily previously reported.

The solar acquisition still needs regulatory approval and customary closing conditions, with completion expected by the end of this year.