According to two sources with knowledge of the matter and a document seen by Reuters, AbuDhabi’s renewable energy company Masdar is on the verge of reaching a deal. The company wilacquire a 49.9% stake in the solar project portfolio controlled by the Spanish power companyEndesa for approximately $200 million.
This deal for a power portfolio of around 450 megawatts builds on the existing partnership betweerthe two companies and will further expand Masdar’s business in Spain. Masdar regards Spain as akey country for its growth in Europe. A spokesperson for the state-owned enterprise Masdar said”While we do not comment on market speculation, we will continue to explore opportunities in theregion and strive to achieve our global target of 100 gigawatts by 2030.” This deal is also in line withthe strategy of Enel (the owner of Endesa), which is to sell minority stakes in some projects to avoicdebt while maintaining control of the assets.

Last July, Mlasdar held a minority stake in the 2-gigawatt solar power projects controlled by EndesaIn September, the company acquired the green energy company Saeta Yield from the Canadiancompany Brookfield for $1.4 billion. Masdar is controlled by the UAE’s power and water companyIaga, the national oil company Adnoc,and the sovereign wealth fund Mubadala investmenCompany.
The Masdar spokesperson mentioned that the previous deal with Enel, the acquisition of Saeta, andthe acquisition of a majority stake in the Greek renewable energy company Terna are moves to”further expand our presence in Europe.” (This article is from the oficial website of Seetao.com.www.seetao.com. No reprinting is allowed without permission. Otherwise, legal liability will bepursued. lf reprinting, please indicate Seetao.com + the original text link.)