UAE and Greece Announce €12.75 Billion in Agreements as Abu Dhabi Plans Additional €15 Billion Investment
The United Arab Emirates (UAE) and Greece have announced 18 memorandums of understanding (MoUs), agreements, and commercial partnerships valued at €12.75 billion, alongside plans by Abu Dhabi to invest an additional €15 billion in Greece, marking a significant expansion of economic cooperation between the two countries.
The announcements were made during the UAE–Greece Strategic Forum in Athens, attended by H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, and Greek Prime Minister H.E. Kyriakos Mitsotakis.
According to the Abu Dhabi Media Office, the agreements cover several strategic sectors, including renewable energy, digital infrastructure, artificial intelligence (AI), advanced technology, logistics, transportation, ports, healthcare, life sciences, and food security.
Abu Dhabi Expands Investment Commitments in Greece
The UAE's proposed additional €15 billion investment builds on a €4 billion joint investment initiative established in 2022, reflecting the countries' growing economic relationship and shared interest in long-term strategic partnerships.
During the forum, Sheikh Khaled and Prime Minister Mitsotakis discussed opportunities to strengthen bilateral cooperation in energy, infrastructure, healthcare, and emerging technologies.
The forum also brought together senior government officials, investors, and business leaders to identify new commercial opportunities and advance projects supporting sustainable economic growth.
The latest announcements reinforce Greece's position as an increasingly important destination for Emirati investment, particularly in renewable energy and digital infrastructure.
Masdar Announces Major Solar Investment in Greece
Among the significant energy-related developments, Abu Dhabi Future Energy Company (Masdar) announced an agreement to acquire and develop a solar photovoltaic project in Greece with a capacity exceeding 550 megawatts (MW).
The project, being acquired from Lightsource bp, is expected to become operational by the end of 2026 and generate enough electricity to supply more than 200,000 homes annually.
Masdar also plans to integrate battery energy storage into the development, supporting grid stability, improving electricity system flexibility, and enabling greater renewable energy integration.
The transaction includes two privately owned substations connecting the project to Greece's electricity transmission network. Completion remains subject to regulatory approvals and customary closing conditions.
Masdar and Khazna Partner on Green Data Centers
In a separate development, Masdar and Khazna Data Centers signed an MoU to explore green data center development in Greece.
The partnership will combine Masdar's renewable energy and storage expertise with Khazna's data center development and operational capabilities.
The initiative aims to support Greece's ambitions to become a regional digital infrastructure hub by providing reliable, sustainable electricity for energy-intensive technologies, including artificial intelligence and cloud computing.
The collaboration reflects the growing relationship between clean energy investment and digital infrastructure development, as countries seek to meet rising electricity demand while advancing their energy transition objectives.
Building on the €3.2 Billion TERNA ENERGY Acquisition
Masdar's latest investment follows its acquisition of Greek renewable energy company TERNA ENERGY, which was completed in April 2025.
The acquisition began with a 70% stake purchased in November 2024, valuing TERNA ENERGY at approximately €3.2 billion.
TERNA ENERGY now serves as Masdar's strategic platform for expansion across Southeastern and Central Europe, with plans to achieve 6 gigawatts (GW) of operational renewable energy capacity by 2030, supported by a €5.5 billion investment program.
The newly announced solar project represents another step in expanding Masdar's regional renewable energy portfolio and strengthening Greece's clean energy infrastructure.
Strengthening UAE–Greece Economic Relations
The latest agreements highlight the UAE's expanding investment presence in European markets and Greece's growing importance as a regional gateway connecting Europe, the Middle East, and Africa.
With cooperation extending across energy, technology, transportation, healthcare, and industrial development, both countries are seeking to translate their strategic relationship into long-term commercial partnerships.
The combination of €12.75 billion in announced agreements and Abu Dhabi's proposed additional €15 billion investment signals a substantial deepening of bilateral economic ties, although the investment plan and announced agreements represent distinct commitments and should not be treated as a single finalized investment total.
