Abu Dhabi-based Masdar has announced its plan to acquire Saeta Yield from Canada-based Brookfield Renewable and its institutional partners for an enterprise value of $1.4 billion (€1.2 billion). The deal, expected to close by late 2024, includes 745 MW of wind and solar PV assets, with 538 MW of wind in Spain, 144 MW in Portugal, and 63 MW of solar PV in Spain. Additionally, the acquisition offers access to a 1.6 GW development pipeline. However, Brookfield will retain 350 MW of concentrated solar power assets. According to Brookfield, this sale aligns with its capital recycling strategy to fund future growth. Masdar’s acquisition strengthens its renewable energy footprint in Spain and Portugal and aligns with its goal of reaching 100 GW of global renewable capacity by 2030.
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