Masdar, the UAE’s clean energy leader, has entered an agreement with Endesa S.A. to acquire a 49.99% stake in four solar plants in Spain, with a total capacity of 446 MW.
The transaction, which is subject to regulatory approvals and other conditions, would see Masdar invest €184 million for the stake in the assets, which have an enterprise value of €368 million.
These operating assets mark a milestone in Masdar’s continued growth in the Iberian Peninsula and across Europe, furthering its commitment to advancing the region’s renewable energy ambitions. The proposed acquisition follows an agreement in 2024 between Masdar and Endesa to partner in a portfolio of over 2 GW of solar assets, with the potential to add 0.5 GW of battery storage, in one of Spain’s biggest renewable energy transactions in recent years.
Masdar’s continued partnership with Endesa is expected to play a role in helping Spain meet its National Energy and Climate Plan targets. In 2024, Masdar also acquired Saeta, an established renewables platform with an operating portfolio of 745 MW of predominantly wind assets and a 1.6 GW development pipeline in Spain and Portugal. This latest transaction brings Masdar’s total operational capacity in the Iberian Peninsula to 3.2 GW.
Masdar is committed to supporting the EU reach its 2050 net zero targets. In February 2025, Masdar and global energy leader, Enel Group, owner of Endesa, signed a memorandum of understanding to explore potential renewable energy opportunities in countries including Italy, Spain, and Germany.
Masdar has retained BNPP as its Transaction Advisor, Linklaters as Legal Advisor, UL as Technical Advisor, and PwC as its Tax Advisor.
The acquisition will be partially funded via acquisition financing from BNPP, Santander, Intesa Sanpaolo, ADCB, and FAB. Lenders were advised by Ashurst.
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Read the article online at: https://www.energyglobal.com/solar/25032025/masdar-to-expand-endesa-partnership-in-368-million-renewable-energy-transaction/
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