Abu Dhabi’s renewable energy company, Masdar, is significantly expanding its presence in Europe through a series of strategic acquisitions and partnerships aimed at bolstering its renewable energy portfolio. These initiatives align with Masdar’s ambitious goal to achieve 100 gigawatts (GW) of renewable energy capacity globally by 2030.
In a notable transaction, Masdar has agreed to acquire Spanish renewables group Saeta Yield from Brookfield for approximately $1.4 billion. This acquisition encompasses wind farms and solar plants in Spain and Portugal, with an operational capacity of 745 megawatts (MW) and an additional 1.6 GW of projects under development. The deal is pending approval from Spanish and Portuguese authorities.
Earlier this year, Masdar entered into a partnership with Endesa, a subsidiary of Italy’s Enel, involving an investment of €817 million for a 49.99% stake in 48 solar plants across Spain. This collaboration represents a combined investment of €1.7 billion and is expected to enhance Masdar’s renewable energy footprint in the Iberian Peninsula.
In the United Kingdom, Masdar has joined forces with RWE to develop 3 GW of offshore wind capacity. This partnership aims to contribute significantly to the UK’s decarbonization efforts and underscores Masdar’s commitment to large-scale renewable energy projects in Europe.
Masdar has expanded its operations into Greece and Eastern Europe through the acquisition of a significant stake in TERNA ENERGY. This move is expected to play a crucial role in enhancing Masdar’s portfolio across Europe, supporting its global capacity targets.
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This article first appeared on Greenlogue and is brought to you by Hyphen Digital Network
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