Masdar boosts growth in Spain’s green energy sector.

Wednesday 25 September 2024

Masdar Makes Major Move in Spanish Renewables Market

Masdar, a global leader in renewable energy, has recently acquired the renowned Spanish renewables developer Saeta Yield for an impressive sum of $1.4 billion (£1 billion). This strategic acquisition marks a significant step in Masdar’s expansion into the Spanish renewables market.

The acquisition deal includes a substantial portfolio of 745MW of primarily wind assets along with a promising 1.6GW development pipeline in Spain and Portugal. This move solidifies Masdar’s presence in Spain, a key player in Europe’s thriving renewable energy sector.

HE Dr Sultan Al Jaber, Chairman of Masdar and COP28 President, expressed his excitement about the acquisition, stating, ‘Masdar is dedicated to fast-tracking the deployment of clean energy capacity across the Iberian Peninsula and Europe. This landmark agreement with Brookfield Renewable underscores Masdar’s impressive growth trajectory, showcasing our unwavering commitment to the EU’s ambitious net zero by 2050 goal while unlocking new capacities.’

He further added, ‘In line with our promises, Masdar is ramping up its ambitious expansion plans and actively supporting the UAE Consensus ratified at COP28 to triple renewable energy capacity by 2030, facilitating a smooth, fair, and just energy transition.’

Masdar has set a bold target of achieving a global capacity of 100GW by 2030, aligning with sustainable energy goals on a global scale.

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