• As an established renewables platform equipped with end-to-end capabilities and strong growth opportunities, Saeta strengthens Masdar's footprint in the Iberian Peninsula
  • Successful execution of Brookfield's business plan resulted in significant value creation and growth of Saeta
  • The transaction would see Masdar acquire a portfolio of 745MW of predominantly wind assets, and a 1.6GW development pipeline in Spain and Portugal
  • Deal advances Masdar's growth plans in the region, representing one of Spain and Portugal's largest renewable energy transactions, as the company targets global capacity of 100GW by 2030
ABU DHABI, UAE and MADRID, Sept. 24, 2024 /PRNewswire/ -- Abu Dhabi Future Energy Company PJSC - Masdar ("Masdar"), the UAE's clean energy powerhouse, today announced the proposed acquisition of Saeta Yield ("Saeta") from Brookfield Renewable (NYSE: BEP), (BEPC; TSX) (BEP.UN, BEPC), together with its institutional partners ("Brookfield"), for an implied enterprise value of c. US$1.4 billion (€1.2 billion). Closing of the transaction is subject to customary approvals and is expected to occur around the end of 2024.

Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, Chairman of Masdar and COP28 President, and Mark Carney, Chair and Head of Transition Investing at Brookfield, meet on the sidelines of the United Nations General Assembly, New York, to finalize Saeta deal.

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