# 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.

- Type: Partnership
- Announced: 2025-07-10
- Where: Greece
- Value: $225.0M (207.0M EUR)
- Status: announced
- Products: power generation from natural gas, electricity supply, natural gas supply
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [GEK TERNA](https://endata.com/companies/85915.md) (partner)
- [Motor Oil (Hellas) Corinth Refineries S.A.](https://endata.com/companies/85925.md) (partner)

## Sources

- [moh.gr](https://www.moh.gr/announcement/announcement-of-business-developments-agreement-between-motor-oil-and-gek-terna-for-the-establishment-of-a-joint-venture/), 2025-07-10: "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."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.