United Arab Emirates-based clean energy company Masdar has announced plans to acquire Saeta Yield from Brookfield Renewable and its institutional partners for an enterprise value of $1.4 billion (€1.2 billion). Saeta Yield, an independent renewable power developer, owner, and operator, has a substantial portfolio of 745MW of wind and solar assets. This includes 538MW of wind power in Spain, 144MW in Portugal, and 63MW of solar photovoltaic assets in Spain, along with a 1.6GW development pipeline.

Brookfield will retain 350MW of concentrated solar power assets, while the deal is expected to be finalized by the end of 2024, pending customary approvals.

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