Masdar's Strategic Solar Expansion with Endesa in $200 Million Deal

Abu Dhabi’s renewable energy firm, Masdar, is nearing a $200 million deal to acquire a 49.9% stake in a solar portfolio managed by Spain's Endesa. This move aligns with its strategy to expand its European operations. The portfolio spans around 450 megawatts and strengthens their ongoing collaboration, building on previous ventures such as acquiring a stake in a 2-gigawatt solar project also controlled by Endesa. This collaboration is part of Masdar's larger European expansion strategy, consistent with its recent acquisition of Saeta Yield, a Canadian green energy firm, and a majority stake in Greek company Terna. Endesa's parent company, Enel, aims to manage debt by selling minority stakes while retaining control of assets. Masdar, controlled by TAQA, ADNOC, and Mubadala, strives to reach a global target of 100 gigawatts by 2030.