Manolis Maragoudakis will step down as chief executive officer of TERNA ENERGY after three decades leading the company.
Aristotelis Chantavas, formerly head of Europe at Enel Green Power, will take over as chief executive on 30 March, the company said.
TERNA ENERGY added that a structured transition process is in place to ensure continuity and a smooth handover of responsibilities.
Maragoudakis has served as chief executive since the company’s establishment in 1997 and oversaw its development as a major player in the Greek renewable energy sector.
During his tenure the company delivered projects including the Amphilochia pumped storage complex, the Kafireas wind parks and the Agios Georgios project.
TERNA ENERGY was wholly acquired by Masdar in 2025 and now serves as the group’s platform for long-term development in Greece and eastern Europe.
The company is targeting an operational renewable energy portfolio of 6GW by 2030.
“I would like to express my sincere appreciation to Mr. Maragoudakis for his leadership and partnership,” said Mohamed Jameel Al Ramahi, chief executive officer of Masdar.
“His work has created the strong foundation upon which we are now building our presence in Southeast Europe.”
“I assume the leadership of TERNA ENERGY with a strong sense of honor and responsibility, at a time when the company possesses solid foundations, deep expertise and highly experienced people in the sector,” said Aristotelis Chantavas.
“Our objective, in close cooperation with the company’s team and with the support of Masdar, is to accelerate TERNA ENERGY’s next phase of growth, expanding our project portfolio and further strengthening our role as one of the most important regional energy platforms in Eastern Europe.”