The state company Emiratí Masdar, drives with its growth in Europe, now highlighting its plans to acquire renewable assets in Portugal of Totalenergies and in France and Belgium of EDPR. This operation could add around 800 MW, mainly wind, thus consolidating its strategic position in three of the most promising renewable markets. Investments are expected to be made through its Spanish subsidiary Saeta Yield, recently acquired.
The offensive in Portugal, 600 MW, and in France and Belgium for 121 MW, complements the intense activity deployed by Masdar in Spain during 2024, the year in which it executed outstanding investments to strengthen its regional presence.
In September, Masdar acquired Saeta Yield to the Canadian Brookfield for about 1.3 billion, an operation that included operational assets of 745 MW – mostly wind – and an additional portfolio in development of up to 1.6 GW in Spain and Portugal.
In addition, through Saeta Yield, Masdar acquired the Valle Solar project, located in the Valencian Community, with a capacity of 190 MW, thus consolidating its penetration into the Spanish photovoltaic market.
Another strategic operation in Spain was the alliance sealed in July with Endesa. By virtue of this agreement, valued at 1.7 billion, MASDAR acquired 49.99% of EGPE Solar, a company that manages already operational photovoltaic plants in Spain with a capacity of 2 GW. This agreement also provides for future hybridization with 500 MW batteries storage systems. The company has also closed the sale of 446 MW Solares (RA2) for 184 million.
The ambitious Iberian strategy of Masdar is part of its global offensive for leading the renewable energy market, a sector in which it invested in 2024 about 7.6 billion euros in its own capital and mobilized more than 4,150 million additional euros in project financing in nine countries.
The company, founded in 2006 and backed by Abu Dhabi, aims to achieve a total installed capacity of 100 GW renewable in 2030. At the end of last year, it already had a global operational capacity of 51 GW, the result of outstanding acquisitions and international size projects in the United States, Greece, Azerbaijan, Saudi Arabia, Uzbekist and the United Arab Emirates.
With these strategic movements, MASDAR – with the help of BNP Paribas – consolidates Spain and Portugal as priority markets, thus promoting the energy transition and in turn reinforcing the key role that United Arab Emirates wants to play in the world renewable industry.
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