Masdar partners with Endesa on 2.5 GW project

Abu Dhabi Future Energy Company PJSC – Masdar has partnered with Endesa S.A. to acquire a 49.99% stake in a 2.5 GW renewable energy portfolio in Spain for €817 million. The deal, valued at €1.7 billion, includes 48 solar plants with 2 GW capacity and plans for an additional 0.5 GW of battery storage. The companies also signed an MoU to explore further projects. This acquisition is part of Masdar’s growth strategy in Europe, which includes recent deals with GEK TERNA SA and developments like the Baltic Eagle offshore wind project. The deal was funded by BNPP, Santander, Intesa, ADCB, FAB, and SMBC, with advisors such as BNPP and PwC.