Masdar has expanded its European footprint with two major acquisitions in the Iberian Peninsula, collectively valued at over €2 billion ($2 billion).
The strategic investments are set to strengthen the company’s renewable energy portfolio while advancing its ambitious target of achieving 100GW of global capacity by 2030.
Among the acquisitions is Saeta Yield, a leading renewables platform with 745MW of operational wind and solar assets and a 1.6GW development pipeline across Spain and Portugal.
Purchased from Brookfield Renewable Partners and its institutional partners for an enterprise value of €1.2 billion, the acquisition excludes Saeta’s 350MW concentrated solar power portfolio, which Brookfield will retain.
“This acquisition reinforces Masdar’s commitment to the EU’s Net Zero by 2050 strategy and underscores our confidence in the Iberian Peninsula’s renewable energy market,” said Mohamed Jameel Al Ramahi, CEO of Masdar.
In a separate deal, Masdar secured a 49.99% stake in EGPE Solar, a subsidiary of Spain’s Endesa S.A., for an enterprise value of €817 million. EGPE Solar manages over 2GW of operational solar photovoltaic (PV) assets in Spain and is set to integrate 0.5GW of battery energy storage systems (BESS).
Under the agreement, Endesa retains operational control and will purchase 100% of the energy generated by the PV assets through long-term power purchase agreements (PPAs). The partnership advances Spain’s renewable energy goals and the EU’s energy transition strategy.
The acquisitions strengthen Masdar’s role as a key player in Europe’s renewable energy market, building on its recent majority stake purchase in TERNA ENERGY in Greece. The investments expand Masdar’s portfolio to include a diverse mix of solar, wind, and storage solutions across the continent.
“These deals highlight Masdar’s role as a trusted global partner for governments and investors,” Al Ramahi added. “We are committed to unlocking new renewable capacity and supporting the energy transition across Europe and beyond.”
Masdar’s deals involved a robust advisory network, including Citigroup Global Markets Limited and BNPP for transaction advice, Linklaters for legal counsel, and UL for technical assessments.
