Spain’s EGPE Solar 2 saw 49.99% stake go to Masdar from Enel

Enel S.p.A., a multinational power company, has shared that its unit EGPE, through Endesa, agreed to sell 49.99% of EGPE Solar 2 to Masdar for €184 million. EGPE Solar 2 holds four solar plants in Spain with a total capacity of 446 MW. The full value of the company was set at €368 million. This deal followed a previous partnership between Enel and Masdar in December 2024 for 2 GW of solar projects in Spain. The agreement included 15-year power purchase deals where Endesa would buy the electricity. The sale was expected to lower Enel’s net debt by €184 million in 2025 and would not affect its profits since Enel would still control EGPE Solar 2. The deal was planned to close in the second quarter of 2025, after approvals. It fit into Enel’s strategy to keep control of key assets while improving returns.