{"id":99070,"date":"2024-12-23T00:00:00","date_gmt":"2024-12-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/masdar-finalizes-saeta-acquisition\/"},"modified":"2024-12-23T00:00:00","modified_gmt":"2024-12-23T00:00:00","slug":"masdar-finalizes-saeta-acquisition","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/12\/23\/masdar-finalizes-saeta-acquisition\/","title":{"rendered":"Masdar finalizes Saeta acquisition"},"content":{"rendered":"

Masdar <\/strong>completes EUR 1.2 bn acquisition of Saeta: <\/strong>Renewables giant Masdar has completed its acquisition of Spanish renewables firm Saeta Yield from Brookfield Renewable, an affiliate of Canada-based investment firm Brookfield, for EUR 1.2 bn, according to a Friday press release<\/a>. The acquisition adds a 1.6 GW renewables pipeline to Masdar\u2019s portfolio. <\/p>\n

More details:<\/strong> Saeta will also come with an operating portfolio of 745 MW<\/a>, including 538 MW and 144 MW wind assets in Spain and Portugal, respectively, and 63 MW solar PV assets in Spain. The acquisition excludes a 350 MW portfolio of concentrated solar power assets Brookfield will retain and continue to operate.<\/p>\n

This is the second Spanish acquisition for Masdar this year<\/strong>, with the renewables firm saying in September it is \u201c very keen<\/a> on the Spanish market\u201d and that it is looking to expand in the country through new acquisitions. In July, Masdar agreed to acquire<\/a> a 50% stake in Spanish power firm Endesa\u2019s solar power installations subsidiary EPGE Solar for AED 3.3 bn (c. EUR 818 mn). The acquisition will make Masdar a partner in 2.5 GW of renewable energy assets in Spain with the transaction set to close in 4Q 2024. <\/p>\n

The company is expanding in Europe more broadly <\/strong>as part of its plan to reach its 100 GW target for global capacity by 2030. It also finalized the acquisition of a 70% stake<\/a> in Greece\u2019s Terna Energy last month. <\/p>\n

There\u2019s more planned: <\/strong>Masdar \u2014 along with the Abu Dhabi Investment Authority (Adia), the Canada Pension Plan Investment Board, and founder Sumant Sinha \u2014 submitted a bid<\/a> to take <\/p>\n

Nasdaq-listed Indian clean energy firm Renew Energy Global private. The group \u2014 which collectively owns 64% of the company \u2014 is offering to purchase Renew Energy at USD 7.07 per share, representing an 11.5% premium to the stock's last close. The offer values the company at USD 2.82 bn, and would see Japan\u2019s Jera, which owned 11.7% of Class A shares in the company, exit the firm. <\/p>\n","protected":false},"excerpt":{"rendered":"

Masdar is aiming to reach 100 GW of global renewable energy capacity by 2030<\/p>\n","protected":false},"author":1,"featured_media":99071,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2392],"tags":[7,60,171,211],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-99070","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-enterpriseam-uae","tag-ma-watch","tag-masdar","tag-renewables","wpautop","entry"],"acf":{"mongo_id":"50b8c4b6-740d-433d-b501-ed4875e8e23e","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/12\/127.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Masdar finalizes Saeta acquisition","related_issue":[99056],"teaser":"Masdar is aiming to reach 100 GW of global renewable energy capacity by 2030","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.b3a99acd-d8ae-46d1-af14-639577db7018.mp3"},"yoast_head":"\nMasdar finalizes Saeta acquisition - 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