Masdar to buy renewable energy assets at estimated EUR 849 million

Masdar, the Abu Dhabi-based clean energy company, has completed a series of transactions to acquire renewable energy assets in Spain, with a total estimated value of €849 million. The company has acquired a 49.99% stake in four operational solar PV plants from Endesa, valued at €184 million, adding 446MW of solar capacity to its European portfolio. This acquisition builds on a previous 2024 deal in which Masdar acquired a 49.99% stake in 2GW of solar assets from Endesa, making it Spain’s largest renewable energy transaction in recent years.

In addition to the Endesa deal, Masdar has also acquired the Spanish renewables platform Saeta Yield for €1.2 billion in late 2024, expanding its Iberian Peninsula presence. Saeta Yield’s portfolio includes 2.3GW of operational capacity and serves as Masdar’s primary regional operating hub. The company has also signed an agreement to acquire the Valle Solar project in Valencia, a 234MW solar park, through Saeta Solar.

These transactions bring Masdar’s total gross operational capacity in the Iberian Peninsula to 3.2GW, with over 2GW of development pipeline. The company’s strategic focus on Spain is driven by the country’s favorable regulatory environment, ambitious renewable energy targets, and its role as a key market for decarbonizing the European energy grid.

The Endesa acquisition was partially funded through equity of €69 million and acquisition financing of €115 million, with additional support from banks including BNP Paribas, Santander, Intesa Sanpaolo, ADCB, and FAB. The deals are aligned with Masdar’s broader global strategy to expand its renewable energy capacity and contribute to EU net-zero goals.