Masdar, the UAE\u2019s clean energy company, has significantly strengthened its presence in Europe with two major acquisitions in the Iberian Peninsula, aligning with its ambitious growth plans. Masdar acquired Saeta Yield from Brookfield Renewable Partners (NYSE: BEP, BEPC; TSX: BEP.UN, BEPC) and its institutional partners for an enterprise value of \u20ac1.2 billion and an equity value of \u20ac696 million.<\/p>\n\n\n\n
In addition, Masdar finalized a strategic partnership with Endesa S.A., acquiring a 49.99% stake in EGPE Solar for an enterprise value of \u20ac817 million and an equity value of \u20ac280 million. EGPE Solar, a subsidiary of Enel Group\u2019s Endesa, operates a 2-gigawatt (GW) portfolio of photovoltaic (PV) assets in Spain, further enhancing Masdar\u2019s renewable energy capacity in Europe.<\/p>\n\n\n\n
According to Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, these acquisitions underscore the company\u2019s commitment to driving the global energy transition and supporting the EU\u2019s Net Zero by 2050 strategy. The acquisition of Saeta and the partnership with Endesa aim to accelerate Masdar\u2019s goal of achieving 100GW global renewable energy capacity by 2030.<\/p>\n\n\n\n
The Saeta acquisition adds 745 megawatts (MW) of predominantly wind assets to Masdar\u2019s portfolio, including 538MW in Spain, 144MW in Portugal, and 63MW of solar PV in Spain. The deal also includes a 1.6GW development pipeline. Meanwhile, the partnership with Endesa integrates long-term power purchase agreements (PPAs) under which Endesa will acquire 100% of the energy produced by EGPE Solar\u2019s assets. The collaboration also plans to add 0.5GW of battery energy storage systems to support renewable energy projects.<\/p>\n\n\n\n
These strategic moves follow Masdar\u2019s recent acquisition of a majority stake in TERNA ENERGY in Greece, further solidifying its presence across Europe. By focusing on renewable energy investments and partnerships, Masdar continues to play a pivotal role in advancing clean energy solutions globally while targeting ambitious growth milestones.<\/p>\n","protected":false},"excerpt":{"rendered":"
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