Abu Dhabi group buys Spanish green energy – 09/29/2024 – Market

Masdar will buy the Spanish renewable energy group Saeta Yield, which belongs to Brookfield, for US$1.4 billion (R$7.61 billion), in an agreement announced last Tuesday (24).

It is the second investment by the company, which is backed by the Abu Dhabi fund, in the country’s green energy sector this year. The agreement is mainly aimed at wind farms, as well as solar plants, in Spain and Portugal, with an operational capacity of 745 megawatts and a further 1.6 gigawatts planned for development.

The Abu Dhabi group is pursuing an ambitious target, set in 2022, of having at least 100 gigawatts of renewable energy capacity by 2030. Today, the group has more than 20 gigawatts of capacity, not including assets purchased this year, as some deals have not yet been completed.

The deal comes less than three months after Masdar agreed to invest 817 million euros (R$4.9 billion) in Spanish solar plants belonging to Endesa, a subsidiary of Italian energy group Enel. The agreements require approval from local authorities.