UAE-based Masdar, expanded its European clean energy portfolio through two acquisitions in the Iberian Peninsula. The company acquired Saeta Yield from Brookfield Renewable Partners and its institutional partners for an enterprise value of € 1.2 billion (~$1.25 billion) and an equity value of € 696 million (~$725.83 million). Saeta’s portfolio includes 745 MW of wind and solar PV assets across Spain and Portugal, excluding 350 MW of concentrated solar power assets retained by Brookfield, along with a 1.6 GW development pipeline. Masdar also acquired a 49.99% stake in EGPE Solar, a subsidiary of Endesa S.A., for an enterprise value of € 817 million (~$852.01 million) and an equity value of € 280 million (~$292.01 million). EGPE Solar owns 2 GW of operational PV assets in Spain. The agreement includes long-term power purchase agreements and provisions for 0.5 GW of battery energy storage.
Masdar expands Iberian portfolio with Saeta, EGPE deals
Masdar completed acquisitions in the Iberian Peninsula, acquiring Saeta Yield and securing a stake in EGPE Solar with Endesa. (Image Source: Masdar)
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