Masdar to acquire 49.99% in Endesa’s 446 MW solar assets in Spain

Abu Dhabi Future Energy Company PJSC – Masdar announced an agreement with Endesa S.A. to acquire a 49.99 percent stake in four solar plants in Spain, totaling 446 MW. The transaction, subject to regulatory approvals and other conditions, would involve a €184 million (~$198.23 million) investment by Masdar for assets with a total enterprise value of €368 million (~$396.37 million), reflecting a proportional purchase. It followed Masdar’s 2024 acquisition of a similar stake in a 2 GW solar portfolio from Endesa, with potential for 0.5 GW of battery storage. The deal expanded Masdar’s operational capacity in the Iberian Peninsula to 3.2 GW and aligned with Spain’s NECP targets and the EU’s Net Zero 2050 goal. Advisors included BNPP, Linklaters, UL, and PwC, with acquisition financing from BNPP, Santander, Intesa Sanpaolo, ADCB, and FAB.