{"id":285,"date":"2024-09-23T12:59:09","date_gmt":"2024-09-23T08:59:09","guid":{"rendered":"https:\/\/www.utilitybusinessmena.com\/?p=285"},"modified":"2024-09-23T12:59:09","modified_gmt":"2024-09-23T08:59:09","slug":"masdar-set-to-acquire-brookfields-saeta-yield-in-major-clean-energy-deal","status":"publish","type":"post","link":"https:\/\/cheeltech.com\/utilitybusinessmena\/news\/masdar-set-to-acquire-brookfields-saeta-yield-in-major-clean-energy-deal","title":{"rendered":"Masdar set to acquire Brookfield’s Saeta Yield in major clean energy deal"},"content":{"rendered":"\n

Abu Dhabi-based clean energy firm Masdar<\/a> is reportedly close to finalising an acquisition of Saeta Yield SA, a Spanish renewable energy<\/a> company owned by Brookfield Asset Management.<\/p>\n\n\n\n

Media reports quoted sources familiar with the negotiations indicating that an announcement could come as early as this month.<\/p>\n\n\n\n

Saeta Yield, which operates renewable energy assets in Spain and Portugal, is estimated to have a valuation of approximately \u20ac1.5 billion ($1.7 billion), according to local media reports.<\/p>\n\n\n\n

The interest in clean energy<\/a> investments has surged recently across various European markets, driven by declining valuations due to high interest rates and rising equipment costs. Spain, in particular, remains a significant player in the solar power<\/a> sector.<\/p>\n\n\n\n

Discussions between Masdar and Saeta are reported to be in advanced stages; however, there is potential for delays or complications.<\/p>\n\n\n\n

Brookfield representatives declined to comment on the matter, while a spokesperson for Masdar noted that the company does not discuss “market speculation.” Efforts to reach Saeta for comment were unsuccessful outside regular business hours.<\/p>\n\n\n\n

If the acquisition is completed, it would mark Masdar’s second major investment in Spain within the last two months.<\/p>\n\n\n\n

Brookfield originally took Saeta private in 2018 after acquiring the company, which was first listed in 2015 amid a wave of investor enthusiasm for “yieldcos.”<\/p>\n\n\n\n

The renewable energy firms are characterised by their ability to generate consistent dividends with relatively low capital expenditure.<\/p>\n\n\n\n

In July, Masdar announced its intention to pursue further opportunities in Europe\u2019s green energy market, indicating a willingness to consider both minority investments and controlling stakes.<\/p>\n\n\n\n

The company recently agreed to acquire a 49.99% stake in a portfolio of 48 solar plants in Spain, owned by Endesa, a subsidiary of Italy’s Enel. The investment amounts to \u20ac817 million ($887 million) and encompasses a total capacity of 2 gigawatts.<\/p>\n\n\n\n

Mazin Khan, Masdar\u2019s CFO, stressed in a July interview with Reuters<\/em> that the investments necessary to meet Europe\u2019s ambitious green energy targets, combined with a stabilisation of asset prices that had surged during the low interest rate period, present significant opportunities in the region.<\/p>\n\n\n\n

Masdar has made substantial investments in renewable energy projects globally, boasting a total capacity of approximately 20 gigawatts and a valuation exceeding $30 billion.<\/p>\n\n\n\n

The company anticipates that Europe will play a crucial role in achieving its goal of reaching 100 gigawatts of capacity by 2030.<\/p>\n","protected":false},"excerpt":{"rendered":"

Saeta Yield, which operates renewable energy assets in Spain and Portugal, is estimated to have a valuation of approximately $1.7 billion<\/p>\n","protected":false},"author":2,"featured_media":286,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[70,40,41],"tags":[284,170,42,285],"class_list":{"0":"post-285","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-climate-change","8":"category-news","9":"category-renewable-energy","10":"tag-brookfield","11":"tag-masdar","12":"tag-renewable-energy","13":"tag-saeta-yield"},"_links":{"self":[{"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/posts\/285","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/comments?post=285"}],"version-history":[{"count":0,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/posts\/285\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/media\/286"}],"wp:attachment":[{"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/media?parent=285"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/categories?post=285"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/tags?post=285"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}