Masdar Acquires Half of Endesa's 2.5-GW Solar Portfolio

• Masdar's strategic investment in Spanish solar and storage assets marks a significant step towards their ambitious European expansion goals.

Masdar, a UAE-based renewables developer, has purchased a 49.99% stake in a portfolio of 2.5 GW of solar and storage capacities owned by Spanish utility Endesa SA for EUR 817 million. This deal, valued at EUR 1.7 billion, includes 48 operational solar plants with a combined capacity of 2 GW and the addition of 500 MW of new battery energy storage systems.

The agreement also includes a memorandum of understanding between Masdar and Endesa to explore joint development of further renewable energy projects in Spain. This partnership supports Masdar's expansion plans in Europe and follows their recent announcement of a plan to acquire a Greek renewables firm with a target operational capacity of 6 GW by 2030.

What is Masdar's latest investment in solar and storage capacities in Spain?

• Masdar has purchased a 49.99% stake in a portfolio of 2.5 GW of solar and storage capacities in Spain for EUR 817 million.
  
• The deal with Spanish utility Endesa SA is valued at EUR 1.7 billion and includes 48 operational solar plants with a combined capacity of 2 GW.
  
• The agreement also includes the addition of 500 MW of new battery energy storage systems.
  
• Masdar and Endesa have signed a memorandum of understanding to explore joint development of further renewable energy projects in Spain.
• This partnership supports Masdar's expansion plans in Europe, following their recent announcement of a plan to acquire a Greek renewables firm with a target operational capacity of 6 GW by 2030.