Clean energy arm of Abu Dhabi Future Energy Company Masdar has closed the acquisition of a 50% stake in Terra-Gen, a US-based independent renewable energy producer. The 50% stake was previously owned by Energy Capital Partners, while the other 50% stake remains with Igneo Infrastructure Partners. Terra-Gen’s operating portfolio comprises of 3.8 GW of wind, solar, and battery storage assets, while its development pipeline exceeds 12 GW, including major projects in California, Texas, and New York. This transaction aligns with Masdar’s ambition to reach 100 GW of renewable energy capacity worldwide by 2030. With $20 billion allocated through the PACE initiative, led by Masdar and US investors, 15 GW of clean energy projects are set to be developed in the US by 2035. The acquisition reinforces Masdar’s involvement in the US energy transition, with Terra-Gen projects planned to begin commercial operations in 2025. Financial and legal advisors in the deal include Lazard, Guggenheim, and White & Case.
Masdar acquires 50% stake in Terra-Gen
With $20 billion in funding, Masdar and US investors target 15 GW of clean energy by 2035 through the PACE initiative. (Image Source: Masdar)
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