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GEK Terna: New subsidiary for energy activities not sold to Masdar

GEK Terna proceeded with the establishment of a new subsidiary company, under the name GEK Terna Urban Services, with an initial share capital of 45 million euros

GEK Terna Urban Services will assume in the first phase the activities of Terna Energy, which will not be sold to Masdar under the agreement that has been announced.

This is, among other things, the field of waste management. Terna Energy has implemented the project of Integrated Waste Management of the Peloponnese Region, which includes 3 Waste Treatment Units (WTP), 3 Sanitary Landfills and 2 Transfer Stations.

It has also built and operates the Urban Solid Waste Treatment Unit of the Epirus Region, which was put into operation in March 2019.

2.5-billion-euro projects

GEK Terna aims to expand its Waste Management activities as projects worth 2.5 billion euros are expected to be auctioned in the next period.

Terna Energy’s participation in the projects, “Digital Transformation, Telematics, and Unified Automatic Toll Collection System for the Thessaloniki Transport Project Organization (OSETH)” and “Ultra-Fast Broadband Infrastructures” will also be transferred to GEK Terna Urban Services.