Masdar Boosts US Presence with Terra-Gen Stake Acquisition
- Masdar's latest move: acquiring 50% stake in US renewable energy producer Terra-Gen, a key step in its goal of 100GW capacity by 2030.
UAE's Masdar has agreed to purchase a 50% stake in US renewable electricity producer Terra-Gen Power Holdings II LLC, as part of its strategy to expand its presence in the American market. The deal is a significant step towards Masdar's goal of building a global renewable energy portfolio with at least 100 gigawatts of capacity by 2030.
Energy Capital Partners will fully exit its position in Terra-Gen, while Infrastructure investment manager Igneo will retain its existing 50% stake in the company. Terra-Gen currently operates 32 renewable power sites in the US, focusing on California and Texas, with 2.4 gigawatts of wind and solar capacity and 5.1 gigawatt-hours of energy storage.
Masdar's interest in acquiring a share of existing Iberdrola onshore clean-energy assets further demonstrates its commitment to expanding its renewable energy portfolio globally.
What is Masdar's strategy for expanding its presence in the American market?
- Masdar's strategy for expanding its presence in the American market includes purchasing a 50% stake in US renewable electricity producer Terra-Gen Power Holdings II LLC.
- The deal with Terra-Gen is a significant step towards Masdar's goal of building a global renewable energy portfolio with at least 100 gigawatts of capacity by 2030.
- Energy Capital Partners will fully exit its position in Terra-Gen, while Infrastructure investment manager Igneo will retain its existing 50% stake in the company.
- Terra-Gen currently operates 32 renewable power sites in the US, focusing on California and Texas, with 2.4 gigawatts of wind and solar capacity and 5.1 gigawatt-hours of energy storage.
- Masdar's interest in acquiring a share of existing Iberdrola onshore clean-energy assets further demonstrates its commitment to expanding its renewable energy portfolio globally.
