Masdar, a global leader in clean energy, has announced the completion of its acquisition of a 49.99% stake in a €368 million portfolio that includes four operational solar PV plants from Enel Green Power España S.L., a subsidiary of Endesa S.A., a prominent player in the Spanish electricity sector and part of the Enel Group. This transaction involves an equity investment of €69 million by Masdar, supplemented by an additional €115 million in acquisition financing. As a result, Masdar significantly enhances its European portfolio with 446 megawatts (MW) of operational solar capacity, aligning with its strategy to expand renewable energy capabilities throughout the Iberian Peninsula and broader Europe.
This agreement strengthens the strategic partnership between the two companies, following Masdar’s acquisition of a 49.99% stake in 2 gigawatts (GW) of solar assets from Endesa in 2024. This deal was one of the largest renewable energy transactions in Spain in recent years and includes plans to add up to 0.5GW of battery storage. With this latest acquisition, Masdar’s total gross operational capacity in the Iberian Peninsula reaches 3.2GW, alongside a development pipeline exceeding 2GW.
These operational assets further Masdar’s commitment to advancing the region’s renewable energy goals and supporting the EU in achieving its 2050 net-zero targets. Earlier this year, Masdar and Enel Group signed a Memorandum of Understanding (MoU) to explore potential renewable energy opportunities in countries such as Italy, Spain, and Germany.
Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, stated:“This acquisition is aligned with Masdar’s broader global strategy to expand our renewable energy capacity and further demonstrates our long-term commitment to Europe. We are confident that further strengthening our partnership with Endesa through this deal will play a crucial role in the development of the Spanish renewable energy sector. As one of the most important energy transformation markets in Europe, Spain will continue to be a key focus for Masdar for years to come. The transaction positions us well for further growth and helps contribute to decarbonizing the energy grid and meeting both domestic and EU climate targets.”
Flavio Cattaneo, CEO of Enel Group, remarked: “We are pleased with the closing of this transaction which represents another milestone in Enel’s long-term partnership with Masdar. We look forward to continuing to work together in accelerating the energy transition.”
This deal enhances Masdar’s standing in Spain and reinforces its broader expansion plans across Southern Europe. In late 2024, the company finalized the €1.2 billion acquisition of Saeta Yield, a leading Iberian renewables platform with a portfolio of 2.3GW, which now serves as Masdar’s primary regional operating hub on the Iberian Peninsula.
Spain, recognized as one of the EU’s most dynamic solar energy markets, is a cornerstone of Masdar’s European growth strategy. Its scale, regulatory framework, and ambitious National Energy and Climate Plan (NECP) targets make the country an ideal contributor to Masdar’s global ambition of achieving 100GW of renewable capacity by 2030.
Source: Masdar
