Abu Dhabi Future Energy Company PJSC – Masdar, jointly owned by TAQA, ADNOC, and Mubadala, has partnered with Endesa, a subsidiary of the Italian energy giant Enel, for 2.5 gigawatts of renewable-energy assets in Spain. The transaction would see Masdar invest €817 million ($886 million) to acquire a 49.99 percent stake, with an enterprise value of €1.7 billion ($1.8 billion), representing one of Spain’s biggest renewable-energy deals.
The portfolio Masdar plans to acquire consists of 48 operational solar plants of 2 gigawatts aggregated capacity. Endesa and Masdar aim to add 0.5 gigawatts of battery energy storage system (BESS) to the projects. In addition to the acquisition share purchase agreement, Masdar and Endesa signed a memorandum of understanding to explore an alliance aimed at jointly developing renewable-energy projects in Spain.
These solar projects will play an important role in supporting Spain to meet its National Energy and Climate Plan and the E
