GEK TERNA

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.

GEK TERNA and Motor Oil have signed a binding agreement to merge their electricity and natural gas supply and generation activities into a new entity (UtilityCo), with equal participation. The transaction is expected to be completed by early 2026.