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- Masdar will acquire 745MW of wind assets and a 1.6GW development pipeline in Spain and Portugal.
- The deal positions Masdar as a key player in one of Spain’s largest renewable energy transactions.
- Masdar targets global renewable capacity of 100GW by 2030, aligned with the EU’s net-zero by 2050 goal.
Masdar, Abu Dhabi’s clean energy leader, announced plans to acquire Saeta Yield from Brookfield Renewable for an enterprise value of $1.4 billion. The deal strengthens Masdar’s position in Spain and Portugal’s renewable energy markets, with the acquisition of 745MW of wind assets and a 1.6GW development pipeline.
A Strategic Acquisition
This transaction marks one of the largest renewable energy deals in Spain, reinforcing Masdar’s commitment to accelerating the clean energy transition in the region. Saeta’s portfolio includes 538MW of wind assets in Spain, 144MW in Portugal, and 63MW of solar PV assets in Spain. The acquisition does not include a 350MW portfolio of concentrated solar power assets, which Brookfield will retain.
“Masdar is committed to accelerating the delivery of clean energy capacity across the Iberian Peninsula and Europe,” said HE Dr Sultan Al Jaber, Chairman of Masdar. “This landmark deal builds on Masdar’s strong growth story, demonstrating our commitment to the EU’s net-zero by 2050 target.”
Growth and Optimization
Since acquiring Saeta in 2018, Brookfield successfully executed a business plan that included divesting non-core assets and optimizing the company’s capital structure. This strategy positioned Saeta for growth through hybridization, greenfield development, and accretive tuck-in opportunities.
“We are thrilled to conclude this important transaction with Masdar,” said Mark Carney, Chair at Brookfield. “Brookfield and Masdar will continue to be important players in the journey towards a net-zero economy.”
Expanding Masdar’s Ambitions
Masdar aims to reach a global renewable capacity of 100GW by 2030. This acquisition is a key milestone toward that goal, complementing Masdar’s recent partnership with Endesa for 2.5GW of solar energy in Spain.
“With 745MW of operating wind assets and a 1.6GW development pipeline, Saeta is a perfect complement to our portfolio,” said Mohamed Jameel Al Ramahi, CEO of Masdar. “This deal consolidates our footprint in the Iberian market, supporting our expansion plans to 100GW by 2030.”
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Brookfield also expressed confidence in Saeta’s future under Masdar’s leadership. Connor Teskey, CEO of Brookfield Renewable, remarked, “Saeta is well-positioned to continue delivering renewable energy across Iberia under Masdar’s sponsorship.”
As Masdar deepens its influence in Europe’s renewable energy landscape, the company is strategically positioning itself to lead in clean energy development while contributing to a sustainable future.