Abu Dhabi Future Energy Co. PJSC Masdar Closes Saeta Acquisition in Spain
December 20 2024 - 8:58AM
RNS Non-Regulatory
RNS Number : 9730Q
Abu Dhabi Future Energy Co. PJSC
20 December 2024
FOR EXTERNAL USE
Masdar Closes Saeta
Acquisition to Strengthen Footprint in Iberian
Peninsula
·
Masdar completes acquisition of Saeta,
an established renewables platform with an
operating portfolio of 745MW of predominantly wind assets, and a
1.6GW development pipeline in Spain and Portugal for an enterprise
value of €1.2 billion
·
Landmark deal strengthens Masdar's portfolio in
Iberian Peninsula and Europe, as company targets global capacity of
100GW by 2030
Abu
Dhabi, UAE, and Madrid, Spain, December 20, 2024
- Masdar, the UAE's clean energy leader, has
completed the acquisition of Saeta Yield
("Saeta") from Brookfield Renewable (NYSE: BEP, BEPC; TSX: BEP.UN,
BEPC), together with its institutional partners ("Brookfield"), for
an implied enterprise value of 1.2 billion euros (equity value of
696 million euros).
The acquisition of Saeta,
an established renewables platform equipped with
end-to-end capabilities and strong growth opportunities,
strengthens Masdar's footprint in the Iberian Peninsula.
Saeta consists of an operating portfolio of 745
megawatts (MW) of predominantly wind assets - 538MW of wind assets
in Spain, 144MW of wind assets in Portugal and 63MW solar PV assets
in Spain - and includes a 1.6 gigawatt (GW) development
pipeline.
The deal demonstrates
Masdar's commitment to accelerating the energy
transition on the Iberian Peninsula and Europe, advancing its
growth plans in the region as the company targets a global capacity
of 100GW by 2030.
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