BAKU, Azerbaijan, March 25. Masdar has
announced an agreement to acquire a 49.99% stake in four solar
plants in Spain from Endesa S.A. for 184 million euros, Trend reports.
The deal, which is subject to regulatory approvals, will give
Masdar access to a total capacity of 446 MW.
This acquisition builds upon Masdar’s 2024 purchase of a 49.99%
stake in a 2GW solar portfolio in Spain, with plans to add up to
0.5GW of battery storage. The move further strengthens Masdar’s
position in Spain, one of the largest solar markets in the European
Union, and supports the country’s National Energy and Climate Plan
(NECP) targets.
Mohamed Jameel Al Ramahi, CEO of Masdar, emphasized the
company’s commitment to Europe’s decarbonization goals and the EU’s
Net Zero 2050 targets. “This acquisition enhances our growing
portfolio and strengthens our partnership with Endesa, positioning
us to unlock new renewable energy opportunities,” he said.
The deal reflects Masdar’s broader strategy to expand its
renewable energy presence in Europe, particularly in the Iberian
Peninsula. Last year, the company also acquired Saeta, adding 745MW
of wind assets and a 1.6GW development pipeline across Spain and
Portugal. This acquisition increases Masdar’s operational capacity
in the region to 3.2GW.
Masdar is focused on accelerating the energy transition and
advancing the global energy transformation, with a target of
reaching 100GW of renewable energy capacity by 2030.
