Abu Dhabi Future Energy Company PJSC (MASDAR) announced an agreement with Endesa SA to acquire a 49.99 percent participation in four solar floors in Spain, with a total capacity of 446 megawatts (MW).
The stake acquisition agreement is estimated at 184 million euros, with a business value of 368 million euros for assets.
The transaction is subject to the regulatory approach and other conditions, said Mase.
The total operational capacity of MASDAR in the Iberian Peninsula in 3.2GW
The acquisition agreement for operational assets marks a significant milestone in the continuous growth of Masdar in the Iberian Peninsula and throughout Europe.
The acquisition will be partially founded through the acquisition financing of BNPP, Santander, Intessa Sanpaolo, ADCB and FAB, said Mase.
Mohamed Jameel al Ramahi, executive director of Masdar, said that the acquisition further reflects the company’s commitment to support Europe’s decarbonization objectives and advance the transformation of global energy.
“It also marks another step significantly in our strategic expansion in the Iberian Peninsula and Europe, which adds to our growing portfolio in the continent,” he said.
The Ramahi said that strengthening the company’s association with Endesa positions to unlock new renewable energy opportunities in Europe and beyond, while driving sustainable growth and increases prosperity.
Flavio Cattaneo, CEO of Enel Group, said that with this transaction, the company is renewing the cooperation launched last year with Masdar.
“The agreement signed today demonstrates our commitment to accelerate the energy transition also in association with large international industrial groups, in line with our strategic plan,” he said.
The acquisition of propones follow the agreement of last year between Masdar and Endesa to associate in a portfolio or approximately 2GW of solar assets, with the potential to add 0.5GW of battery storage, in one of the greatest renewable energy in Spain.
Last year, Masdar also acquired Saeta, a renewable energy platform established with an operational portfolio or 745MW or predominantly winding assets, and a 1.6GW development pipe in Spain and Portugal.
The last transaction carries the total operational capacity of Masdar in the Iberian Peninsula to 3.2GW.
