Masdar to Expand Endesa Partnership in $381 Million Renewable Energy Deal
Deal News | Mar 25, 2025 | Zawya
Abu Dhabi Future Energy Company PJSC (Masdar) has announced its plan to acquire a 49.99% stake in four solar power plants in Spain, enhancing its strategic expansion across Europe. Collaborating with Endesa S.A., Masdar will invest AED702 million, equivalent to $184 million, for assets boasting a total capacity of 446 megawatts. With an enterprise value of AED1.4 billion ($368 million), this transaction signifies Masdar's growing footprint in the Iberian renewable energy market. The deal follows a previous agreement between Masdar and Endesa to co-develop a portfolio exceeding 2GW in solar assets, complemented by 0.5GW of potential battery storage. This initiative stands as one of the most significant renewable energy transactions in Spain in recent times. Masdar's CEO, Mohamed Jameel Al Ramahi, emphasized the firm’s commitment to Europe's decarbonization goals, which align with the overarching aim to support the EU’s 2050 net-zero objectives. The company recently acquired Saeta, enhancing its Iberian footprint with a 745MW wind asset portfolio and a 1.6GW development pipeline. Enel Group CEO, Flavio Cattaneo, underscores this deal's alignment with Enel's strategic plan to accelerate Europe's energy transition. This investment bolsters Spain's National Energy and Climate Plan (NECP) and expands Masdar’s operational capacity in the Iberian Peninsula to 3.2GW.
Sectors
- Renewable Energy
- Private Equity
Geography
- Spain – The solar power plants in which Masdar is investing are located in Spain, signifying the primary geography of the transaction.
- United Arab Emirates – Masdar, based in Abu Dhabi, UAE, is driving the investment from this region, showcasing its international expansion.
Industry
- Renewable Energy – The article discusses the acquisition of stake in solar energy plants, which is a part of the renewable energy sector, particularly focusing on solar power.
- Private Equity – Masdar's strategic investment in Endesa's solar power assets highlights the role of private equity in funding and expanding renewable energy projects in Europe.
Financials
- $381 million – Total transaction value for Masdar's acquisition of 49.99% stake in four solar plants.
- AED702 million – Amount representing Masdar's investment for the acquisition.
- 446 megawatts (MW) – Combined capacity of the four solar plants involved in the transaction.
- AED1.4 billion – Enterprise value of the solar plant assets.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Masdar | Purchaser | Company | Abu Dhabi Future Energy Company PJSC, UAE's clean energy leader, investing in renewable projects globally. |
| Endesa S.A. | Seller | Company | A leading Spanish utility company with a focus on electricity and gas distribution. |
| Enel Group | Parent Company | Company | An Italian multinational energy company, the parent company of Endesa, that focuses on electricity generation, distribution, and energy services. |
| Mohamed Jameel Al Ramahi | Chief Executive Officer | Person | CEO of Masdar leading the company’s renewable energy expansion strategy. |
| Flavio Cattaneo | Chief Executive Officer | Person | CEO of Enel Group, involved in strategic planning and international partnerships. |