Masdar has inked an agreement to acquire 49.99 percent stake in four solar plants owned by Endesa in Spain. These solar assets have a total capacity of 446 MW. Masdar has invested €184 million for the stake in the assets, which have an enterprise value of €368 million.
Furthermore, the acquisition follows 2024’s agreement between Masdar and Endesa to partner in a portfolio of over 2GW of solar assets, with the potential to add 0.5 GW of battery storage. This agreement will strengthen Masdar’s position in EU and support Spain’s NECP targets and the EU’s Net Zero 2050 goal.
Earlier in July 2024, Masdar announced a partnership with Endesa for 2.5 GW of renewable energy projects in Spain, pending regulatory approvals. Masdar invested €817 million for a 49.99 per cent stake in the projects worth €1.7 billion.
