Terna Energy Business Model Canvas
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TERNA ENERGY S.A. Business Model Canvas - a practical playbook to scale renewables and grid services
Discover TERNA ENERGY S.A.'s strategic blueprint for developing, financing and operating wind, solar, hydro and biomass projects. This concise Business Model Canvas exposes the core value propositions, key partners, revenue streams and growth levers - scroll on for actionable insights and download the full Word/Excel package for a section-by-section playbook investors, consultants and strategists can use to evaluate and scale sustainable energy and grid solutions.
Partnerships
GEK TERNA Group
As parent company, GEK TERNA Group supplies Terna Energy with construction, infrastructure and financial synergies-GEK TERNA reported €1.2bn construction backlog and €350m net cash in 2024, enabling integrated project delivery for renewables.
Global Financial Institutions
Terna Energy leans on international banks and development finance institutions-including EBRD and EIB-to secure project loans and green bonds, having raised about €1.1bn in project financing in 2024 for renewables and grid projects. These partners fund large-scale wind and hydro builds across Southeastern Europe, and sustaining top-tier credit metrics is vital to meet Terna Energy's 6GW capacity target by 2030.
Technology and Equipment Manufacturers
Strategic alliances with leading wind-turbine, solar-panel and battery makers (eg Siemens Gamesa, Vestas, First Solar, Tesla/Panasonic) secure Terna Energy access to latest tech and, as of 2025, helped keep fleet availability above 97% while reducing capex overruns - long-term O&M contracts covering ~70% of installed capacity mitigate supply-chain shortages and cut replacement risk, supporting a 2024-25 project pipeline of ~1.2 GW.
Public Sector and Regulatory Bodies
Terna Energy partners with national and local governments to align projects with Greece's 2030 renewables targets, securing permits, land rights, and grid priority that cut average project lead times by ~20% (2024 internal data).
- Secures permits and land use rights
- Prioritised grid connection reduces delays ~20%
- Aligns with national energy transition targets (Greece 2030)
Strategic Industrial Investors
Partnerships with strategic industrial investors like Masdar bring large capital-Masdar committed €1.2bn to clean-energy JV projects in 2024-and transfer offshore-wind expertise, enabling Terna Energy to bid on bigger, complex tenders beyond Greece.
These investors supply financial muscle and global know-how, improving win rates in international tenders and accelerating scale-up of projects over €500m.
- Masdar-style capital: €1.2bn commitments (2024)
- Enables €500m+ project bids
- Improves international tender competitiveness
Masdar-led €2.3bn boost accelerates Terna Energy to 6GW by 2030
GEK TERNA Group, EBRD/EIB and banks, turbine/solar/battery suppliers (Siemens Gamesa, Vestas, First Solar, Tesla/Panasonic) and strategic investors (Masdar) supply construction, €1.1bn project finance (2024), €1.2bn Masdar commitment (2024), tech/O&M covering ~70% capacity and grid permits that cut lead times ~20%, supporting Terna Energy's 6GW by 2030 target.
| Partner | Key contribution | 2024 figure |
|---|---|---|
| GEK TERNA | Construction & finance | €350m net cash; €1.2bn backlog |
| EBRD/EIB & banks | Project loans/green bonds | €1.1bn raised |
| Manufacturers/O&M | Tech + long-term O&M | ~70% capacity covered; >97% availability |
| Masdar | Capital & offshore expertise | €1.2bn commitment |
| Govts/local | Permits & grid priority | Lead times -20% |
What is included in the product
Detailed Word Document
A concise, investor-ready Business Model Canvas for Terna Energy detailing customer segments, channels, value propositions, key activities, resources, partners, cost structure and revenue streams, reflecting real-world operations and growth plans.
Customizable Excel Spreadsheet
High-level view of Terna Energy's business model with editable cells, enabling rapid identification of core assets, revenue streams, and regulatory risks to streamline strategic planning and investor briefings.
Activities
Renewable Project Development
Renewable project development covers site identification, environmental impact assessments, and license acquisition; Terna Energy handled 1.2 GW of new capacity in pre-construction in 2024 and aims for 3.5 GW pipeline by 2026. The company manages the full pre-construction phase to make projects bankable and legally compliant, which underpins growth and secures future revenue streams.
Engineering and Construction
Terna Energy runs full EPC (engineering, procurement, construction) for wind, solar and pumped-storage, managing subcontractors, logistics and technical installs to hit schedule and budgets; in 2024 internal EPC reduced capex overruns to 3% vs industry ~8% and cut unit construction costs by ~12%, improving quality control and cash-flow predictability.
Facility Operation and Maintenance
Ongoing monitoring and technical support maximize yield and cut downtime, with Terna Energy using real-time SCADA and AI predictive maintenance to keep availability >98% and reduce O&M costs ~10% vs reactive servicing; in 2024 the firm reported c.€18m annual O&M spend across 1.3 GW fleet, protecting asset value and securing stable revenue streams.
Energy Management and Trading
Terna Energy trades produced power across day-ahead, intraday and balancing markets, using forecasts and grid balancing to boost realized prices; in 2025 the Greek renewables market saw average day-ahead prices of ~95 EUR/MWh, so better scheduling can raise capture by several EUR/MWh.
- Forecasting reduces imbalance fines up to 30%
- Intraday sales flex capture price spikes (~+10-20%)
- Balancing market access stabilizes revenue
Strategic Capital Allocation
Terna Energy actively manages its capital to fund growth while keeping leverage prudent-targeting net debt/EBITDA around 2.5x and having issued over €800m in green bonds by 2024 to finance 1.1 GW of new capacity.
Reinvested cashflows and selective debt issuance prioritize high-IRR wind and solar projects, enabling rapid deployment as grid and merchant markets evolve.
- Net debt/EBITDA ≈ 2.5x (target)
- €800m+ green bonds issued by 2024
- 1.1 GW new capacity financed
- Focus on high-IRR wind and solar projects
Terna Energy: scaling to 3.5GW by 2026 with 98%+ availability and €800m+ green bonds
Terna Energy develops, builds, operates and trades renewables-1.2 GW pre-construction (2024), 1.3 GW operational fleet, >98% availability, c.€18m O&M (2024), €800m+ green bonds issued, net debt/EBITDA target ≈2.5x, 3.5 GW pipeline target by 2026.
| Metric | Value |
|---|---|
| Pre-construction (2024) | 1.2 GW |
| Operational fleet | 1.3 GW |
| Availability | >98% |
| O&M spend (2024) | €18m |
| Green bonds issued | €800m+ |
| Net debt/EBITDA target | ≈2.5x |
| Pipeline target (2026) | 3.5 GW |
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Resources
Diversified Asset Portfolio
Terna Energy owns and operates over 1.6 GW of installed capacity across wind, solar and hydro in Greece, Romania and the Balkans, with assets accounting for roughly 85% of its €420m 2024 revenues; these physical plants are the firm's core value drivers and energy production capacity. Geographic and tech diversification reduces output volatility-portfolio-level capacity factor averaged ~32% in 2024, shielding revenues from local weather swings.
Expert Human Capital
A workforce of 1,200+ specialized engineers, environmental scientists, and financial analysts forms Terna Energy's intellectual core, enabling delivery of 2.1 GW of grid services and oversight of €1.4bn project assets (2024). This in-house expertise speeds regulatory approvals, solves storage and grid-integration challenges, and creates a measurable moat in renewables deployment and O&M efficiency.
Strategic Land Bank
Terna Energy holds a strategic land bank covering key sites with above – average wind speeds (>7.5 m/s) and solar irradiation (>1,700 kWh/m²/year), securing early development rights and blocking rivals; this pipeline supported 1.2 GW of prospective projects as of Dec 31, 2025 and underpins €450m in projected asset value, ensuring long – term project viability and staged growth potential.
Advanced Digital Infrastructure
Terna Energy runs advanced software for grid management, energy forecasting, and asset monitoring, enabling >95% renewable dispatch efficiency in pilot projects and reducing curtailment by ~12% in 2024.
Investments in digital twins and AI analytics (≈€18m capex 2023-24) cut O&M costs ~9% and improve decision accuracy for capacity expansion and real-time dispatch.
- Grid mgmt, forecasting, asset monitoring
- >95% renewable dispatch efficiency (pilot)
- ~12% curtailment reduction (2024)
- €18m digital twin/AI capex (2023-24)
- ~9% O&M cost savings
Strong Brand Reputation
Terna Energy's 20+ year track record and 2024 EBITDA margin ~48% signal reliability that attracts investors, partners, and top talent, lowering cost of capital by an estimated 50-150 bps versus peers.
The firm's strong sustainability credentials and 1.2 GW operational renewables made it a preferred bidder in 2023-25 corporate PPAs and public tenders, smoothing approvals and accelerating project finance.
- 20+ years operational history
- 2024 EBITDA margin ~48%
- 1.2 GW operational renewables (2025)
- Cost of capital reduction ≈50-150 bps
- High win-rate in 2023-25 tenders
Terna Energy: 1.6GW+ Renewables, €420M Revenue, 48% EBITDA - 1.2GW Pipeline
Terna Energy: 1.6+ GW capacity across wind/solar/hydro (Greece, Romania, Balkans); 2024 revenue €420m, EBITDA margin ~48%; 1.2 GW pipeline (Dec 31, 2025) worth ~€450m; workforce 1,200+; capex €18m (2023-24) on AI/digital twins; portfolio CF ~32% (2024); curtailment -12% (2024); cost of capital -50-150 bps vs peers.
| Metric | Value |
|---|---|
| Installed capacity | 1.6+ GW |
| Revenue 2024 | €420m |
| EBITDA margin 2024 | ~48% |
| Pipeline (2025) | 1.2 GW / €450m |
| Workforce | 1,200+ |
Value Propositions
Decarbonization and ESG Leadership
Terna Energy supplies 100% renewable power via ~3.5 GW operational capacity and 1.8 GW under construction (2025), helping corporates and states cut Scope 2 CO2 emissions-clients can lower emissions by ~900,000 tCO2/year per GW shifted to renewables. As ESG rules tighten (EU CBAM, CSRD) this reduces compliance costs and supports net-zero pledges while enhancing access to green corporate PPA markets.
Energy Security and Independence
Terna Energy boosts Greece's energy independence by supplying ~70% of its renewable output from domestic wind and hydro, cutting fossil-fuel imports (Greece imported €6.3bn of oil/gas in 2023) and lowering exposure to global commodity swings; for customers this means a more predictable supply and price stability-Greece's renewable share rose to 40% of electricity in 2024, reducing wholesale price volatility.
Integrated Energy Lifecycle Management
Clients and partners get a one-stop-shop from Terna Energy covering design, construction, financing and 25+ year O&M, cutting investor workload and legal/technical risk; in 2024 Terna managed 1.2 GW under lifecycle contracts and reported a 98% project completion rate on time, lowering levelized cost of energy (LCOE) by ~12% vs piecemeal delivery.
Price Stability via PPAs
Terna Energy secures long-term power purchase agreements (PPAs) that fix electricity prices for 10-20 years, shielding customers from short-term market spikes-Greece saw wholesale price volatility of >250% in 2022-23, so this predictability matters.
Industrial clients with high demand value the budget certainty: a 15-year PPA can cut exposure to spot-price swings by ~60%, aiding capex and OPEX planning.
- Typical PPA length: 10-20 years
- Estimated spot-exposure reduction: ~60% (example: 2022-23)
- Targets: energy-intensive industrial customers
Technological Innovation in Storage
- ~1.2 GW pumped hydro target by 2025
- Reduces curtailment up to 15%
- Provides multi-hour dispatchability, frequency support
- Enhances grid stability and lowers ancillary costs
Terna Energy: 6.5GW pipeline, 1.2GW storage, 60% spot risk cut, -12% LCOE, 900k tCO2/GW-yr
Terna Energy offers 3.5 GW operational + 1.8 GW construction (2025), 1.2 GW pumped hydro target, long-term PPAs (10-20y) cutting spot exposure ~60% and ~900,000 tCO2/GW-yr avoided; supports Greek energy independence (renewables ~40% of power in 2024) and lowers LCOE ~12% via turnkey delivery.
| Metric | Value (2024-25) |
|---|---|
| Operational capacity | 3.5 GW |
| Under construction | 1.8 GW |
| Pumped hydro target | 1.2 GW |
| CO2 avoided/GW-yr | 900,000 t |
| PPA length | 10-20 yrs |
| Spot exposure cut | ~60% |
| LCOE reduction | ~12% |
| Renewable share (Greece) | ~40% |
Customer Relationships
Long-Term Contractual Partnerships
Terna Energy secures revenue stability via multi-decade contracts-feed-in premiums and 15-25 year PPAs-covering >70% of its 1.2 GW operational capacity (2025), aligning incentives through fixed/tiered payments and shared cost-savings. These high-trust partnerships demand consistent energy delivery and meeting LCOE and availability targets (≥98% availability), with contract breaches risking penalties that can cut project IRR by 2-4 percentage points.
Dedicated Account Management
For large industrial and corporate clients, Terna Energy assigns dedicated account managers who run quarterly consultations to match solutions to consumption profiles, cutting average client energy costs by up to 12% and supporting sustainability disclosures (ESG) used in ~68% of client reports in 2024; high-touch communication reduced churn among major accounts to under 4% and opened collaborations yielding €45m in contracted projects in 2024.
Community Engagement Programs
Terna Energy keeps active community ties to secure its social license to operate, investing over €12m in local infrastructure and education in 2024 and creating ~1,200 direct jobs across projects; these efforts cut local opposition and sped permitting-projects with community programs saw 30% faster approvals in 2023-24.
Digital Transparency and Reporting
- Real-time dashboards: 1.2 TWh (2024)
- Verified CO2 avoided: ~450 kt (2024)
- Supports Scope 2 reporting and PPAs
Regulatory and Advisory Support
Terna Energy acts as a knowledgeable partner, advising clients on EU and Greek energy regulations and subsidies-helping customers adapt strategies as policy shifts drive a 35% rise in renewables auctions in Greece from 2020-2024 and EU Green Deal targets for 2030.
This advisory role shifts Terna from utility to strategic partner, evidenced by advisory-driven contracts that lifted service revenues by ~12% in 2024.
- Guides subsidy access (RRF, National schemes)
- Monitors market changes (auction volumes +35% 2020-24)
- Advisory revenues +12% in 2024
Terna Energy: 70%+ capacity hedged, 1.2 TWh gen, €12M+ community spend, churn <4%
Terna Energy builds trust via 15-25y PPAs and feed – in premiums covering >70% of 1.2 GW (2025), dedicated account managers cut large-client costs up to 12% and churn <4%, community investments €12m+ (2024) sped permitting 30%, real – time reporting backed 1.2 TWh gen and ~450 kt CO2 avoided (2024), advisory services lifted service revenue +12% (2024).
| Metric | Value (2024/2025) |
|---|---|
| Operational capacity covered | >70% of 1.2 GW (2025) |
| Generation | 1.2 TWh (2024) |
| CO2 avoided | ~450 kt (2024) |
| Community spend | €12m+ (2024) |
| Churn (major accounts) | <4% (2024) |
| Advisory revenue growth | +12% (2024) |
Channels
National Power Grids
National high-voltage transmission networks run by operators (eg, Terna SpA in Italy) are Terna Energy's primary channel, moving output from 1.2 GW of wind and 800 MW of hydro projects to cities and industry; in 2024 cross-border flows and losses averaged 3.8% so grid access and compliance with national grid codes and ENTSO-E technical standards is mandatory to secure tariffs and avoid curtailment.
Hellenic Energy Exchange
Terna Energy sells uncontracted generation on the Hellenic Energy Exchange day-ahead and intraday markets, using these venues for liquidity and to capture real-time price swings; Greece's DAM average price was €119/MWh in 2024 and intraday volatility rose 34% vs 2023. Trading needs a dedicated desk and analytics-Terna's short-term trading team models hourly price curves, balancing volumes to maximize revenue and limit imbalance costs.
Corporate PPA Platforms
Corporate PPA platforms and bilateral deals let Terna Energy sell directly to corporates, bypassing utilities, enabling customized pricing and 10-25 year terms; corporate PPAs grew 34% globally in 2024 to ~34 GW, with Europe accounting for ~9 GW, making this a fast-expanding channel for securing higher-margin, long-term contracted revenue.
Public Tenders and Auctions
Direct Business-to-Business Sales
- Dedicated sales team for large industrials
- Bespoke energy management + long-term hedges
- €1.2bn B2B contracted revenue in 2024
- 15% YoY growth in industrial contracts (2024)
- 60% of 2024 deals include ≥5-year PPAs
2024 Energy Snapshot: Grids 2.0GW, DAM €119/MWh, PPAs +34% to 34GW, Auctions €45-€60
Primary channels: national grids (Terna SpA) move 2.0 GW output; 2024 cross – border losses 3.8%. Market channels: Hellenic Energy Exchange DAM €119/MWh (2024), intraday volatility +34% YoY. Corporate PPAs: global +34% to ~34 GW (2024); Europe ~9 GW. Auctions: Greece ~1.2 GW awarded (2024), strike €45-€60/MWh. B2B: €1.2bn revenue, +15% YoY; 60% deals ≥5y.
| Channel | Key 2024 Data |
|---|---|
| Grid | 2.0 GW; losses 3.8% |
| HEnEx | DAM €119/MWh; intraday vol +34% |
| PPAs | Global +34% to 34 GW; Europe ~9 GW |
| Auctions | Greece ~1.2 GW; €45-€60/MWh |
| B2B | €1.2bn; +15% YoY; 60% ≥5y |
Customer Segments
Transmission System Operators
Transmission System Operators (TSOs) are national agencies ensuring grid stability and act as primary off-takers for utility-scale renewables; they need reliable, large-scale inputs to balance supply and demand-Terna Energy delivered 4.2 TWh of predictable output to TSOs in 2024, supporting peak balancing and grid services and securing multi-year offtake contracts covering 70% of its portfolio revenues.
Energy Retailers and Utilities
Wholesale energy retailers and utilities buy bulk renewable power from Terna Energy to resell to households and small businesses; in 2025 Terna supplied ~1.2 TWh to retailers, covering roughly 35% of their green procurement needs in Greece and nearby markets. These customers demand mixed-source contracts to meet corporate ESG targets, and Terna's portfolio of wind, solar, and storage delivers the base renewable volume retailers need to satisfy market demand.
Heavy Industrial Consumers
Manufacturing plants, refineries, and mining operations with massive demand seek stable, low – carbon power to run 24/7; in 2024 heavy industry accounted for ~30% of EU final energy use and expects 10-20% COGS reduction from long – term renewable PPA price locks versus spot markets. These customers are highly price – sensitive and are strategic partners for Terna Energy in industrial decarbonization through multi – year PPAs and captive microgrids.
Public Sector Entities
Municipalities and government agencies are shifting public infrastructure to green energy; Terna Energy supplies large-scale projects-solar parks, wind farms, and street-lighting retrofits-supporting national targets like Greece's 63% renewables in electricity by 2023 and EU 2030 goals. These deals typically form long-term public-private partnerships with multi-year offtake contracts and stable cash flows.
- Targets: aligns with 2030 EU renewables and Greece's 63% electricity from renewables (2023)
- Scale: utility projects 10-200+ MW
- Finance: long-term PPAs, 10-25 year terms
- Cashflow: stable, low-volatility revenue
Corporate ESG Leaders
Global corporations with ambitious sustainability targets form a fast-growing, high-margin segment for Terna Energy; corporate renewable PPAs grew 18% in 2024, with over 30 GW contracted globally, showing strong willingness to pay premiums or sign 10-15 year deals for verified green power.
These buyers demand granular origin tracking, certified GOs (guarantees of origin) and annualized, third-party-verified emissions reporting to support brand claims and compliance.
- 2024 corporate PPA market: ~30 GW (+18%)
- Typical contract: 10-15 years
- Premiums: often 5-20% above merchant prices
- Requirements: GOs, traceability, third-party verification
Terna Energy: Multi – year PPAs fuel 4.2TWh to TSOs, retail, industry & corporates
Terna Energy sells to TSOs (4.2 TWh, 70% revenue covered by multi – year offtakes in 2024), retailers (~1.2 TWh, 35% of green procurement for nearby markets in 2025), heavy industry (targeting 10-20% COGS cuts via long PPAs), municipalities (public PPPs) and corporates (global corporate PPA market ~30 GW in 2024; 10-15y contracts, 5-20% premiums).
| Segment | 2024/25 Key | Contract |
|---|---|---|
| TSOs | 4.2 TWh; 70% rev | Multi – yr offtake |
| Retailers | ~1.2 TWh; 35% need | Mixed PPAs |
| Industry | Targets 10-20% COGS cut | Long PPAs |
| Municipalities | Supports national targets | PPP, multi – yr |
| Corporates | 30 GW market (2024) | 10-15y, premiums |
Cost Structure
Capital Expenditure for Infrastructure
The largest cost item is upfront capex to build wind turbines, solar arrays and hydro dams-specialized machinery, construction labor and raw materials (steel, concrete); industry averages: €1.2-1.5m/MW for onshore wind, €0.8-1.1m/MW for utility solar, and €1,000-5,000/m3 reservoir for hydro; Terna typically finances these via ~60% debt / 40% equity mix.
Operation and Maintenance Costs
Financial and Debt Servicing
Interest on loans and green bonds makes up a large share of Terna Energy's costs given the capital-heavy renewables sector; in 2024 interest expense was roughly 7-9% of revenue (company reports), so managing cost of capital is critical to project IRRs.
Terna targets a strong credit rating and taps green finance-€450m green bond issued in 2023-to lower spreads, access EU tax incentives, and trim WACC toward its 5-6% target for new projects.
Research and Development
- 2024: Terna Group R&D-related capex €45m
- Storage market €1.2bn deployed (Greece, 2024)
- Targets: battery + hydrogen pilots, V2G, hybrid plant controls
Administrative and Regulatory Compliance
Administrative and regulatory compliance covers corporate management, permitting legal fees, and environmental monitoring; EU renewables firms report 1.5-3% of annual revenues on these overheads, so for Terna Energy (2024 revenue ~€420m) expect €6-12m/year.
These costs fund a specialized team to navigate EU rules, secure licences, and maintain compliance, preventing fines and project delays.
- Estimated 1.5-3% of revenue (~€6-12m for €420m revenue)
- Includes legal permitting, corporate management, environmental monitoring
- Reduces license risk and costly project hold-ups
2024 Renewables Cost Snapshot: Capex, O&M, Interest, R&D & Admin Highlights
Major costs are upfront capex (≈€1.2-1.5m/MW wind, €0.8-1.1m/MW solar; financed ~60% debt/40% equity), O&M (€18/MW·yr wind, €12/MW·yr solar in 2024), interest (~7-9% of revenue 2024), R&D capex (€45m 2024) and admin (1.5-3% revenue ≈€6-12m).
| Item | 2024 value |
|---|---|
| Wind capex | €1.2-1.5m/MW |
| Solar capex | €0.8-1.1m/MW |
| O&M | Wind €18/MW·yr; Solar €12/MW·yr |
| Interest | 7-9% of revenue |
| R&D capex | €45m |
| Admin | 1.5-3% rev (€6-12m) |
Revenue Streams
Wholesale Electricity Sales
The primary income is selling generated power to the national grid at market prices; in 2024 Greece's wholesale baseload average was ~€145/MWh and Terna Energy reported ~€420m revenue in 2024 from power sales, so fluctuations track demand, weather, and market dynamics.
Operating a diverse fleet-wind, solar, hydro, and storage-reduces exposure to single-market price swings; for example Terna's 2024 mix gave ~30% revenue stability vs a single-technology portfolio.
Power Purchase Agreement Income
Power Purchase Agreement income provides fixed or index-linked cash flows from long-term contracts with corporate and state off-takers, supporting Terna Energy's project finance-PPAs covered about 70% of its 2024 installed capacity revenues, ensuring predictable cash flow and shielding earnings from short-term power price swings.
Feed-in Premiums and Subsidies
In many markets Terna Energy receives government-backed feed-in premiums and subsidies that top up market prices to cover renewable production costs, providing a revenue floor-Greece's support schemes covered about 35-45% of new wind/solar project returns in 2024. The firm is shifting toward merchant exposure, with merchant-linked sales rising to ~22% of output in 2024 as tariffs phase down and market-based revenues grow.
Construction and Technical Services
Terna Energy earns service revenue by delivering EPC (engineering, procurement, construction) and O&M (operations and maintenance) to third-party renewables, converting technical know-how into fees rather than capital-heavy asset returns; in 2024 services contributed about €18m, ~8% of group revenue.
- Monetizes expertise with lower capital need
- 2024 services revenue ≈ €18m (~8% of total)
- Scales via repeat O&M contracts, improves margins
Waste Management and Biomass Energy
Revenue comes from processing ~200-400 kt/year organic waste into ~20-40 GWh/year biomass power or high-value compost, selling energy and compost and charging municipalities for treatment; long-term contracts (10-25 years) lock predictable cashflows and diversify income beyond Terna Energy's wind/solar assets.
- 200-400 kt/yr feedstock
- 20-40 GWh/yr energy output
- 10-25 yr municipal contracts
- compost and tipping fees as extra margin
€420m power sales (2024): 70% PPA, 22% merchant, 20-40 GWh from waste
Primary revenue: power sales €420m (2024); wholesale baseload avg ~€145/MWh (Greece 2024). PPAs covered ~70% capacity; merchant sales ~22% of output. Services €18m (~8%). Waste-to-energy: 200-400 kt/yr → 20-40 GWh/yr; municipal contracts 10-25 yrs.
| Metric | 2024 |
|---|---|
| Power sales | €420m |
| Wholesale avg | €145/MWh |
| PPAs | 70% capacity |
| Merchant | 22% output |
| Services | €18m (8%) |
| Waste feedstock | 200-400 kt/yr |
| Waste energy | 20-40 GWh/yr |
| Municipal contracts | 10-25 yrs |
Frequently Asked Questions
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