Masdar Boosts European Presence with €184M Spanish Solar Plant Acquisition
Masdar, a leading renewable energy company, has bolstered its European presence by securing a 49.99% stake in four operational Spanish solar plants. The acquisition, worth €69 million in equity and €115 million in acquisition financing, adds 446 MW of capacity to Masdar's portfolio.
This strategic move is part of Masdar's global commitment to reach 100 GW of renewable capacity by 2030. With this latest addition, Masdar's total gross operational capacity across the Iberian Peninsula now stands at 3.2 gigawatts. Notably, this acquisition lifts Masdar's gross operational capacity in the region to 3.2 GW, with over 2 GW still in the pipeline.
The acquisition builds on Masdar's 2024 agreement with Endesa, Spain's leading power utility, for 2 gigawatts of solar assets in Spain. This deal further strengthens Masdar's partnership with Endesa, with the latter remaining a co-owner of the assets through its renewable subsidiary Enel Green Power España.
Spain, with its ambitious target of 74% renewable electricity generation by 2030, solidifies its position as a strategic hub in Europe's energy transition. Masdar's acquisition of these four solar plants, totalling 446 megawatts of operating capacity, underscores the company's commitment to Europe's competitive renewable energy markets.
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