United Arab Emirates’ renewable energy company, Masdar, has announced an agreement to acquire the green energy firm Saeta Yield from Canada’s Brookfield in a deal valued at $1.4 billion. This acquisition includes 745 megawatts (MW) of predominantly wind assets and 1.6 gigawatts of projects under development in Spain and Portugal, making it one of the largest green energy transactions in the Iberian region.
This marks Masdar’s second major green energy investment in Spain in recent months, following a minority stake purchase in 48 solar plants controlled by Endesa for €817 million. The acquisition will enhance Masdar’s portfolio, as the company aims to expand its renewable energy capacity to 100 gigawatts (GW) by 2030. The deal is expected to close by the end of the year.
Spain and Portugal’s rich wind and solar resources continue to attract both domestic and international firms seeking to meet the rising demand for renewable energy.