RCS - Abu Dhabi Future Eng - Masdar Closes Saeta Acquisition in Spain
20/12/2024 16:00
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RNS Number : 9730Q Abu Dhabi Future Energy Co. PJSC 20 December 2024
FOR EXTERNAL USE
Masdar Closes Saeta Acquisition to Strengthen Footprint in Iberian Peninsula
· Masdar completes acquisition of Saeta, an established renewables
platform with an operating portfolio of 745MW of predominantly wind assets,
and a 1.6GW development pipeline in Spain and Portugal for an enterprise value
of €1.2 billion
· Landmark deal strengthens Masdar's portfolio in Iberian Peninsula and
Europe, as company targets global capacity of 100GW by 2030
Abu Dhabi, UAE, and Madrid, Spain, December 20, 2024 - Masdar, the UAE's clean
energy leader, has completed the acquisition of Saeta Yield ("Saeta") from
Brookfield Renewable (NYSE: BEP, BEPC; TSX: BEP.UN, BEPC), together with its
institutional partners ("Brookfield"), for an implied enterprise value of 1.2
billion euros (equity value of 696 million euros).
The acquisition of Saeta, an established renewables platform equipped with
end-to-end capabilities and strong growth opportunities, strengthens Masdar's
footprint in the Iberian Peninsula. Saeta consists of an operating portfolio
of 745 megawatts (MW) of predominantly wind assets - 538MW of wind assets in
Spain, 144MW of wind assets in Portugal and 63MW solar PV assets in Spain -
and includes a 1.6 gigawatt (GW) development pipeline.
The deal demonstrates Masdar's commitment to accelerating the energy
transition on the Iberian Peninsula and Europe, advancing its growth plans in
the region as the company targets a global capacity of 100GW by 2030.
- ENDS -
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