INTELLIGENT BRANDS // Green Technology
Masdar to acquire 49.99 % in four solar plants in Spain, with 446MW capacity
Abu Dhabi Future Energy Company, Masdar, the UAE’ s clean energy provider, announced an agreement with Endesa SA to acquire a 49.99 % stake in four solar plants in Spain, with a total capacity of 446MW. The transaction, which is subject to regulatory approvals and other conditions, would see Masdar invest € 184 million for the stake in the assets, which have an enterprise value of € 368 million.
These operating assets mark a significant milestone in Masdar’ s continued growth in the Iberian Peninsula and across Europe, and further its commitment to advancing the region’ s renewable energy ambitions. The proposed acquisition follows last year’ s agreement between Masdar and Endesa to partner in a portfolio of over 2GW of solar assets, with the potential to add 0.5GW of battery storage, in one of Spain’ s biggest renewable energy transactions in recent years.
The proposed agreement will further strengthen Masdar’ s position in one of EU’ s largest solar markets, supporting Spain’ s NECP targets and the EU’ s Net Zero 2050 goal. As one of the world’ s fastest-growing renewable energy companies, Masdar has a current capacity of more than 50 GW and is targeting 100GW by 2030.
Masdar’ s continued partnership with Endesa is expected to play a significant role in helping Spain meet its National Energy and Climate Plan, NECP targets. Last year, Masdar also acquired Saeta, an established renewables platform with an operating portfolio of 745MW of wind assets, and a 1.6GW development pipeline in Spain and Portugal. This latest transaction brings Masdar’ s total operational capacity in the Iberian Peninsula to 3.2GW.
Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said: " This acquisition further reflects Masdar’ s commitment to supporting Europe’ s decarbonisation goals and advancing the global energy transformation. 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.”
“ With this transaction, we are renewing the cooperation launched last year with a major player such as Masdar,” Flavio Cattaneo, Enel Group CEO, said.“ The agreement signed demonstrates our commitment to accelerate the energy transition also in partnership with large international industrial groups, in line with our Strategic Plan.”
Masdar is one of the world’ s fastest-growing renewable energy companies. As a global clean energy provider, Masdar is advancing the development and deployment of solar, wind, geothermal, battery storage and green hydrogen technologies to accelerate the energy transformation and help the world meet its net-zero ambitions.
Established in 2006, Masdar has developed and invested in projects in over 40 countries with a combined capacity of 51 gigawatts, GW, providing affordable clean energy access to those who need it most and helping to power a more sustainable future.
Masdar is jointly owned by TAQA, ADNOC, and Mubadala, and is targeting a renewable energy portfolio capacity of 100GW by 2030 while aiming to be a producer of green hydrogen by the same year. p
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