Motor Oil and GEK TERNA form joint venture for power generation and supply

Motor Oil and GEK TERNA signed a binding agreement on 10 July 2025 to establish a joint venture in power generation from natural gas thermal plants and supply of electricity and natural gas. Motor Oil will contribute its stakes in NRG Supply and Trading and 50% of Komotini, plus €79 million cash; GEK TERNA will contribute its stake in HERON and 50% of Komotini. Each will hold 50% of the joint venture.

“MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. and GEK TERNA S.A. announce to the investment public that on 10 July 2025 they signed a binding agreement for the establishment of a joint venture.”moh.gr

• 1 source
• moh.grAnnouncement of Business Developments: Agreement between MOTOR OIL and GEK TERNA for the establishment of a joint venture - Motor OilJul 10, 2025

Summarized from public sources; check the original articles before acting on it.