- Masdar set to invest €184 million to acquire 49.99% of four Endesa solar assets in Spain with a capacity of 446 MW, subject to regulatory approvals and other conditions
- Agreement will build upon Masdar’s 2024 acquisition from Endesa in Spain of a 49.99% stake in 2GW portfolio of solar assets, with a potential BESS hybridization of up to 0.5GW
- Proposed agreement will further strengthen Masdar’s position in one of EU’s largest solar markets, supporting Spain’s NECP targets and the EU’s Net Zero 2050 goal
- As one of the world’s fastest-growing renewable energy companies, Masdar has a current capacity of more than 50 GW and is targeting 100GW by 2030
Madrid, Spain; Abu Dhabi, UAE– Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy leader, announced today an agreement with Endesa S.A. to acquire a 49.99 percent stake in four solar plants in Spain, with a total capacity of 446 megawatts (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.
About Masdar:
Masdar (Abu Dhabi Future Energy Company) is one of the world’s fastest-growing renewable energy companies. As a global clean energy leader, Masdar is advancing the development and deployment of solar, wind, geothermal, battery storage and green hydrogen technologies to accelerate the energy transformation and help the world meet its net-zero ambitions. Established in 2006, Masdar has developed and invested in projects in over 40 countries with a combined capacity of 51 gigawatts (GW), providing affordable clean energy access to those who need it most and helping to power a more sustainable future.
Masdar is jointly owned by TAQA, ADNOC, and Mubadala, and is targeting a renewable energy portfolio capacity of 100GW by 2030 while aiming to be a leading producer of green hydrogen by the same year.
About Endesa:
Endesa is a leading electricity company in Spain and the second largest in Portugal. It is also the second largest gas operator in the Spanish market. It manages a vertically integrated business including the generation, distribution and retailing of electricity. It also offers value-added services aimed at the electrification of energy uses in homes, businesses and public administrations. Endesa is firmly committed to the United Nations SDGs as well as Corporate Social Responsibility, where the Endesa Foundation is also active. Endesa’s workforce numbers around 9,000 employees. Endesa is a subsidiary of Enel, the largest electricity group in Europe.
