Masdar strengthens European presence with two Iberian acquisitions

Masdar has expanded its footprint in Europe by completing two acquisitions in the Iberian Peninsula. Along with its institutional partners, Masdar acquired Saeta Yield from Brookfield Renewable Partners for an enterprise value of €1.2 billion and an equity value of €696 million. 

Saeta’s portfolio includes 745 MW of wind assets, with 538 MW in Spain, 144 MW in Portugal, and 63 MW of solar PV assets in Spain, along with a 1.6 GW development pipeline.

In a separate move, Masdar has partnered with Endesa S.A. to develop renewable energy initiatives in Europe. As part of this partnership, Masdar acquired a 49.99% stake in EGPE Solar for an enterprise value of €817 million and an equity value of €280 million. EGPE Solar, a subsidiary of Endesa under the Enel Group, manages a 2 GW photovoltaic portfolio in Spain.