Masdar has expanded its presence in Europe by completing two acquisitions in the Iberian Peninsula. The company along with its institutional partners has acquired Saeta Yield from Brookfield Renewable Partners for an enterprise value of €1.2 billion and an equity value of €696 million.
Saeta’s portfolio includes 745 MW of wind assets out of which 538 MW are in Spain, 144 MW are in Portugal, and the rest 63 MW are solar PV assets located in Spain. Additionally it includes a 1.6 GW development pipeline.
Furthermore, Masdar partnered with Endesa S.A. to develop renewable energy initiatives in Europe. As part of this agreement, Masdar has acquired a 49.99 per cent stake in EGPE Solar for an enterprise value of €817 million and an equity value of €280 million. EGPE Solar is a subsidiary of Endesa under the Enel Group which manages a 2 GW portfolio of operational photovoltaic assets in Spain.
In November 2024, Masdar and Korporata Elektroenergjitike Shqiptare (KESH) inked a term sheet agreement to explore GW-scale renewable energy projects in Albania.
