Masdar Expands European Footprint with 49.99% Stake in €368 Million Spanish Solar Portfolio

Masdar has finalized the acquisition of a 49.99% stake in a €368 million portfolio of four operational solar photovoltaic (PV) plants from Enel Green Power España S.L., a subsidiary of Endesa S.A.—one of Spain’s leading electricity companies and part of the Enel Group. The transaction includes €69 million in equity investment by Masdar and €115 million in acquisition financing, adding 446 megawatts (MW) of operating solar capacity to Masdar’s European portfolio. This strengthens Masdar’s presence in the Iberian Peninsula and supports its strategy to expand renewable energy investments across Europe.

The deal deepens Masdar’s strategic partnership with Endesa, following the company’s acquisition of a 49.99% stake in 2 gigawatts (GW) of solar assets in 2024—one of Spain’s largest renewable energy transactions in recent years, which also includes plans for up to 0.5 GW of battery storage. With this latest acquisition, Masdar’s total gross operational capacity in the Iberian Peninsula rises to 3.2 GW, supported by a development pipeline exceeding 2 GW. Commenting on the transaction, Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said, “This acquisition is aligned with Masdar’s broader global strategy to expand our renewable energy capacity and further demonstrates our long-term commitment to Europe. 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. The transaction positions us well for further growth and helps contribute to decarbonizing the energy grid and meeting both domestic and EU climate targets.”

These operating assets underscore Masdar’s commitment to advancing Europe’s clean energy transition and contributing to the EU’s 2050 net-zero objectives. Earlier this year, Masdar and the Enel Group signed a Memorandum of Understanding (MoU) to explore joint renewable energy opportunities across Italy, Spain, and Germany.