Masdar, a clean energy leader, has announced the closing of its acquisition of a 49.99 per cent stake in a €368 million ($432 million) portfolio comprising four operational solar PV plants from Enel Green Power Espana, a subsidiary of  Endesa, a leading company in the Spanish electricity sector and a subsidiary of Enel Group.

 

 The transaction represents a deployment of €69 million in equity by Masdar, with an additional €115 million of acquisition financing.

 

The move adds a significant 446 megawatts (MW) of operational solar capacity to the company’s European portfolio, while supporting Masdar’s strategy to scale renewable energy capabilities across the Iberian Peninsula and wider Europe.

 

The agreement consolidates the strategic partnership between the two companies, after Masdar acquired a 49.99 per cent stake in 2 gigawatts (GW) of solar assets from Endesa in 2024.

 

The deal was one of Spain’s largest renewable energy transactions in recent years and includes plans to add up to 0.5GW of battery storage.

 

This latest transaction brings Masdar’s total gross operational capacity in the Iberian Peninsula to 3.2GW, with more than 2GW of development pipeline.

 

These operating assets further Masdar’s commitment to advancing the region’s renewable energy ambitions and supporting the EU reach its 2050 net-zero targets.

 

Earlier in the year, Masdar and global energy leader Enel Group signed a Memorandum of Understanding (MoU) to explore potential renewable energy opportunities in countries including Italy, Spain, and Germany.

 

Mohamed Al Ramahi, Chief Executive Officer of Masdar, said: “This acquisition is aligned with Masdar’s broader global strategy to expand our renewable energy capacity and further demonstrates our long-term commitment to Europe. We are confident that further strengthening our partnership with Endesa through this deal will play a crucial role in the development of the Spanish renewable energy sector. As one of the most important energy transformation markets in Europe, Spain will continue to be a key focus for Masdar for years to come. The transaction positions us well for further growth and helps contribute to decarbonising the energy grid and meeting both domestic and EU climate targets.”

 

Flavio Cattaneo, CEO of Enel Group, added: “We are pleased with the closing of this transaction which represents another milestone in Enel’s long-term partnership with Masdar. We look forward to continuing to work together in accelerating the energy transition.” -OGN/ TradeArabia News Service