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| Date | 20 Dec 2024 |
| Time | 14:58:33 |
| Category | Miscellaneous |
| ID | 9730Q |
FOR EXTERNAL USE
Masdar Closes Saeta Acquisition to Strengthen Footprint in Iberian Peninsula
· Masdar completes acquisition of Saeta, an established renewables platform with an operating portfolio of 745MW of predominantly wind assets, and a 1.6GW development pipeline in Spain and Portugal for an enterprise value of €1.2 billion
· Landmark deal strengthens Masdar's portfolio in Iberian Peninsula and Europe, as company targets global capacity of 100GW by 2030
Abu Dhabi, UAE, and Madrid, Spain, December 20, 2024 - Masdar, the UAE's clean energy leader, has completed the acquisition of Saeta Yield ("Saeta") from Brookfield Renewable (NYSE: BEP, BEPC; TSX: BEP.UN, BEPC), together with its institutional partners ("Brookfield"), for an implied enterprise value of 1.2 billion euros (equity value of 696 million euros).
The acquisition of Saeta, an established renewables platform equipped with end-to-end capabilities and strong growth opportunities, strengthens Masdar's footprint in the Iberian Peninsula. Saeta consists of an operating portfolio of 745 megawatts (MW) of predominantly wind assets - 538MW of wind assets in Spain, 144MW of wind assets in Portugal and 63MW solar PV assets in Spain - and includes a 1.6 gigawatt (GW) development pipeline.
The deal demonstrates Masdar's commitment to accelerating the energy transition on the Iberian Peninsula and Europe, advancing its growth plans in the region as the company targets a global capacity of 100GW by 2030.
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