{"id":1251,"date":"2024-12-26T11:22:00","date_gmt":"2024-12-26T07:22:00","guid":{"rendered":"https:\/\/www.utilitybusinessmena.com\/?p=1251"},"modified":"2024-12-26T11:22:00","modified_gmt":"2024-12-26T07:22:00","slug":"masdar-strengthens-european-presence-with-2-billion-renewable-energy-acquisitions","status":"publish","type":"post","link":"https:\/\/cheeltech.com\/utilitybusinessmena\/electricity\/masdar-strengthens-european-presence-with-2-billion-renewable-energy-acquisitions","title":{"rendered":"Masdar strengthens European presence with $2 billion renewable energy acquisitions"},"content":{"rendered":"\n

Masdar<\/a> has expanded its European footprint with two major acquisitions in the Iberian Peninsula, collectively valued at over \u20ac2 billion ($2 billion).<\/p>\n\n\n\n

The strategic investments are set to strengthen the company\u2019s renewable energy<\/a> portfolio while advancing its ambitious target of achieving 100GW of global capacity by 2030.<\/p>\n\n\n\n

Among the acquisitions is Saeta Yield, a leading renewables platform with 745MW of operational wind and solar assets and a 1.6GW development pipeline across Spain and Portugal.<\/p>\n\n\n\n

Purchased from Brookfield Renewable Partners and its institutional partners for an enterprise value of \u20ac1.2 billion, the acquisition excludes Saeta\u2019s 350MW concentrated solar power portfolio, which Brookfield will retain.<\/p>\n\n\n\n

\u201cThis acquisition reinforces Masdar\u2019s commitment to the EU\u2019s Net Zero by 2050 strategy and underscores our confidence in the Iberian Peninsula\u2019s renewable energy market,\u201d said Mohamed Jameel Al Ramahi, CEO of Masdar.<\/p>\n\n\n\n

In a separate deal, Masdar secured a 49.99% stake in EGPE Solar, a subsidiary of Spain\u2019s Endesa S.A., for an enterprise value of \u20ac817 million. EGPE Solar manages over 2GW of operational solar photovoltaic (PV) assets in Spain and is set to integrate 0.5GW of battery energy storage systems (BESS).<\/p>\n\n\n\n

Under the agreement, Endesa retains operational control and will purchase 100% of the energy generated by the PV assets through long-term power purchase agreements (PPAs). The partnership advances Spain\u2019s renewable energy goals and the EU\u2019s energy transition strategy.<\/p>\n\n\n\n

The acquisitions strengthen Masdar\u2019s role as a key player in Europe\u2019s renewable energy market, building on its recent majority stake purchase in TERNA ENERGY in Greece. The investments expand Masdar\u2019s portfolio to include a diverse mix of solar, wind, and storage solutions across the continent.<\/p>\n\n\n\n

 \u201cThese deals highlight Masdar\u2019s role as a trusted global partner for governments and investors,\u201d Al Ramahi added. \u201cWe are committed to unlocking new renewable capacity and supporting the energy transition across Europe and beyond.\u201d<\/p>\n\n\n\n

Masdar\u2019s deals involved a robust advisory network, including Citigroup Global Markets Limited and BNPP for transaction advice, Linklaters for legal counsel, and UL for technical assessments.<\/p>\n","protected":false},"excerpt":{"rendered":"

The strategic investments are set to strengthen the company\u2019s renewable energy portfolio while advancing its ambitious target of achieving 100GW of global capacity by 2030.<\/p>\n","protected":false},"author":7,"featured_media":1252,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36,40,41,559,539,653],"tags":[170,301,42,285],"class_list":{"0":"post-1251","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-electricity","8":"category-news","9":"category-renewable-energy","10":"category-solar","11":"category-sustainability","12":"category-wind-energy","13":"tag-masdar","14":"tag-mohamed-jameel-al-ramahi","15":"tag-renewable-energy","16":"tag-saeta-yield"},"_links":{"self":[{"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/posts\/1251","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/comments?post=1251"}],"version-history":[{"count":0,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/posts\/1251\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/media\/1252"}],"wp:attachment":[{"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/media?parent=1251"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/categories?post=1251"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/tags?post=1251"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}