• Masdar acquires a 49.99% stake in four Endesa solar assets (446 MW) in Spain for €184 million, strengthening its position in Europe.
• The transaction builds on Masdar’s previous investment in a 2GW Spanish solar portfolio, potentially including 0.5GW of battery storage.
• Deal significantly supports Spain’s NECP objectives and the EU’s Net Zero 2050 targets.

Masdar, the UAE’s clean energy leader, announced a strategic partnership expansion with Endesa S.A., investing €184 million for a 49.99% stake in four Spanish solar plants totaling 446 MW. The transaction, pending regulatory approval, values the assets at €368 million.

The acquisition significantly bolsters Masdar’s presence in the Iberian Peninsula, aligning with Spain’s ambitious National Energy and Climate Plan (NECP) targets.

“This acquisition further reflects Masdar’s commitment to supporting Europe’s decarbonization goals and advancing the global energy transformation,” said Mohamed Jameel Al Ramahi, CEO of Masdar. “It also marks another significant step in our strategic expansion in the Iberian Peninsula and Europe, adding to our growing portfolio on the continent. Strengthening our partnership with Endesa positions us to unlock new renewable energy opportunities across Europe and beyond, while driving sustainable growth and boosting prosperity.”

The new deal follows Masdar’s major 2024 agreement with Endesa, encompassing a 2GW solar portfolio with potential battery energy storage system (BESS) hybridization of up to 0.5GW—one of Spain’s largest recent renewable energy transactions.

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“With this transaction, we are renewing the cooperation launched last year with a major player such as Masdar,” said Flavio Cattaneo, Enel Group CEO. “The agreement signed today demonstrates our commitment to accelerate the energy transition also in partnership with large international industrial groups, in line with our Strategic Plan.”

Masdar has rapidly expanded its European renewable energy portfolio, including the recent acquisition of Saeta, a renewables platform with 745MW operational wind assets and 1.6GW pipeline in Spain and Portugal. This transaction elevates Masdar’s operational capacity on the Iberian Peninsula to 3.2GW.

Further expanding its European influence, Masdar recently signed an MoU with Enel Group to explore renewable energy projects in Italy, Spain, and Germany, reinforcing its strategic commitment to Europe’s net-zero ambitions.

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