Gulf multinational Masdar on Wednesday announced an 11-million-euro donation agreement with the island municipality of Poros as part of the national “GR-ECO Islands” program to promote sustainable development on the popular and verdant island.

The initiative includes a range of “green” interventions, such as clean energy production, electrification of municipal and inter-island transport, and improvements to waste management systems. The project is designed to support Poros’ transition toward climate neutrality, enhance key public services and reduce electricity costs for residents.

Implementation will be led by Terna Energy, Masdar’s development and operational affiliate in southeastern Europe. Once completed, the project is expected to boost the island’s energy self-sufficiency, cut transport-related emissions, and improve everyday life for locals.

The move is part of Abu Dhabi-based Masdar’s broader strategy to expand its presence in Greece and the region through renewable energy projects. It also aligns with its 2024 acquisition of Terna Energy and its commitment to supporting the EU’s goal of net-zero emissions by 2050.

Poros Mayor Giorgos Koutouzis described the initiative as a “substantial change of course” for the island, highlighting its impact not only on infrastructure but also on its future development.