RCS - Abu Dhabi Future Eng - Masdar completes acquisition of Endesa assets

Intesa SanPaolo SpAAnnouncement

02/10/2025 08:15

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20251002:nRSB7975Ba&default-theme=true

RNS Number : 7975B  Abu Dhabi Future Energy Co. PJSC  02 October 2025

Market Note - English

MASDAR AND ENDESA ACHIEVE FINANCIAL CLOSE FOR €368 MILLION SOLAR PV
PORTFOLIO, EXPANDING EUROPEAN CLEAN ENERGY CAPABILITIES

·    Acquisition completed of 49.99% stake in the portfolio of four
operational solar PV plants in Spain

·    €184 million investment by Masdar adds 446MW solar capacity to its
European portfolio, bringing Masdar's total gross operational capacity in the
Iberian Peninsula to 3.2GW.

·    Growing partnership with Endesa reaffirms Masdar's long-term
commitment to Spain as a strategic European hub for clean energy growth and
transformation

ABU DHABI, UAE / MADRID, SPAIN - [Thursday, 02 October 2025]: Masdar, a global
clean energy leader, today announced the closing of its acquisition of a
49.99% stake in a €368 million portfolio comprising four operational solar
PV plants from Enel Green Power España S.L., a subsidiary of  Endesa S.A.
("Endesa"), a leading company in the Spanish electricity sector and a
subsidiary of Enel Group. The transaction represents a deployment of €69
million in equity by Masdar, with an additional €115 million of acquisition
financing.  The move adds a significant 446 megawatts (MW) of operational
solar capacity to the company's European portfolio, while supporting Masdar's
strategy to scale renewable energy capabilities across the Iberian Peninsula
and wider Europe.

The agreement consolidates the strategic partnership between the two
companies, after Masdar acquired a 49.99% stake in 2 gigawatts (GW) of solar
assets from Endesa in 2024. The deal was one of Spain's largest renewable
energy transactions in recent years and includes plans to add up to 0.5GW of
battery storage. This latest transaction brings Masdar's total gross
operational capacity in the Iberian Peninsula to 3.2GW, with more than 2GW of
development pipeline.

These operating assets further Masdar's commitment to advancing the region's
renewable energy ambitions and supporting the EU reach its 2050 net-zero
targets. Earlier in the year, Masdar and global energy leader Enel Group
signed a Memorandum of Understanding (MoU) to explore potential renewable
energy opportunities in countries including Italy, Spain, and Germany.

The deal enhances Masdar's position in Spain and reinforces its broader plan
for expansion across Southern Europe. In late 2024, the company completed the
€1.2 billion acquisition of Saeta Yield, a leading Iberian renewables
platform with a portfolio of 2.3GW. Saeta now serves as Masdar's primary
regional operating hub on the Iberian Peninsula.

Spain, one of the EU's most dynamic solar energy markets, is a cornerstone of
Masdar's European growth platform. Its scale, regulatory environment, and
ambitious NECP targets position the country as an ideal contributor to
Masdar's global ambition to reach 100GW of renewable capacity by 2030.

Advisors:

BNPP acted as the transaction advisor, Linklaters as legal advisor, UL as
technical advisor, and PwC as Masdar's tax and finance advisor.

Banks:

The acquisition was partially funded via financing from BNPP, Santander,
Intesa Sanpaolo, ADCB, and FAB.

-ENDS-

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRAELLBBEBLBFBQ