Masdar acquires 49.99% stake in four Spanish solar plants
Power Engineering International
Posted on: 2 October 2025
Masdar has acquired a 49.99% stake in a €368 million portfolio comprising four operational solar PV plants from Enel Green Power España.
Clean energy company Masdar has acquired a 49.99% stake in a €368 million ($432 million) portfolio comprising four operational solar PV plants from Endesa subsidiary Enel Green Power España.
The move adds 446MW of operational solar capacity to Masdar’s European portfolio, while supporting its strategy to scale renewable energy capabilities across the Iberian Peninsula.
The transaction represents a deployment of €69 million ($81 million) in equity with an additional €115 million ($135 million) of acquisition financing.
This latest transaction brings Masdar’s total gross operational capacity in the Iberian Peninsula to 3.2GW, with more than 2GW of development pipeline.
Mohamed Jameel Al Ramahi, chief executive officer of Masdar, said: "We are confident that further strengthening our partnership with Endesa through this deal will play a crucial role in the development of the Spanish renewable energy sector. As one of the most important energy transformation markets in Europe, Spain will continue to be a key focus for Masdar for years to come."
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Flavio Cattaneo, chief executive officer of Enel Group, added: "We are pleased with the closing of this transaction which represents another milestone in Enel’s long-term partnership with Masdar. We look forward to continuing to work together in accelerating the energy transition."
The deal reinforces Masdar's broader plan for expansion across Southern Europe. In late 2024, the company completed the €1.2 billion ($1.4 billion) acquisition of Saeta Yield, an Iberian renewables platform with a portfolio of 2.3GW. Saeta now serves as Masdar’s primary regional operating hub on the Iberian Peninsula.
Spain, one of the EU’s most dynamic solar energy markets, is a cornerstone of Masdar’s European growth platform. Its scale, regulatory environment, and ambitious NECP targets position the country as an ideal contributor to Masdar’s global ambition to reach 100GW of renewable capacity by 2030.
The acquisition was partially funded via financing from BNPP, Santander, Intesa Sanpaolo, ADCB, and FAB with BNPP acting as transaction advisor.
