Masdar announced a partnership with Endesa for 2.5 GW of renewable energy projects in Spain, pending regulatory approvals. Masdar will invest €817 million for a 49.99 per cent stake in the projects worth €1.7 billion. Masdar plans to acquire a portfolio of 48 solar plants with a total capacity of 2 GW and both the companies plan to add 0.5 GW of battery energy storage to the projects.
These projects will support Spain in achieving its National Energy and Climate Plan and the EU’s net zero goals by 2050. Additionally, Masdar and Endesa have signed a MoU to explore a partnership for jointly developing renewable energy projects in Spain.
Earlier this month, Masdar successfully raised $1 billion through its second green bond issuance. This follows a previous successful bond issuance of $750 million on the London Stock Exchange’s International Securities Market in 2023. Proceeds will be used solely for investment in new greenfield renewable energy projects according to Masdar’s Green Finance Framework.
