Abu Dhabi Future Energy Company (Masdar), an Emirati company specialising in renewable energy, has given a strong boost to its commitment to Spain by closing two important transactions in just three days. Firstly, it announced an extension of its partnership with Endesa to acquire 49.99% of four solar assets with a capacity of 446 MWp for 184 million euros. Then it signed the purchase agreement for Valle Solar, one of the largest solar energy projects in the Valencian Community with 234 MWp ofcapacity, through Saeta Solar.

The agreement with Endesa follows the acquisition in 2024 of a 49.99% stake in a portfolio including 2 GW of solar assets in Spain, to which up to 0.5 GW of battery storage can be added. This was one of the largest renewable energy transactions Spain has seen in recent years, and grew Masdar's portfolio to over 50 GW.

Strategic expansion on the Iberian Peninsula
Masdar CEO Mohamed Jameel al Ramahi says the deal “marks another significant step in our strategic expansion in the Iberian Peninsula and Europe, adding to our growing portfolio on the continent. Strengthening our partnership with Endesa positions us to uncover new renewable energy opportunities in Europe and beyond, while driving sustainable growth and boosting prosperity.”

In 2024 Masdar also acquired the Spanish company Saeta Solar, whoseoperating portfolio has a capacity of 745 MWp, mostly wind, and a pipeline of 1.6 GW in Spain and Portugal. By making this acquisition, Masdar reached an operational capacity of 3.2 GW on the Iberian Peninsula.

Construction and commissioning
The second transaction with which Masdar closed March in Spain was in fact led by Saeta Solar, which has taken over one of the largest solar projects in the Valencian Community. According to the investment agreement, the company will be responsible for constructing and commissioning Valle Solar, with a capacity of 234 MWp and a possible hybridisation by battery storage of 259 MW.

The project, initially driven by Genia Solar Energy and Solar Ventures, secures the construction of the plant, which is expected to be operational in the first half of 2027. It is designed to support biodiversity and the communities of the three municipalities in which it is located.

^{Photo: Masdar}