Masdar (Abu Dhabi Future Energy Company PJSC), a UAE-based renewable energy developer, has announced the acquisition of the 234 MW Valle Solar Project. The acquisition was made through its Iberian renewables subsidiary, Saeta Yield.
The project, located in the Valencia region of Spain, has the potential to feature 259 MW of battery energy storage systems. The project is expected to be operational in the first half of 2027.
The company did not disclose the financial details of the transaction.
A joint venture of Genia Solar Energy and Solar Ventures initially promoted this project. In this transaction, Watson Farley & Williams, G-advisory, EY and Finergreen advised Broseta, Solida and Pérez-Llorca advised Solar Ventures and Genia Solar Energy, and Saeta Yield.
This week, the company announced the signing of an agreement with Endesa, a Spanish multinational electric utility company, to acquire a 49.99% stake in four solar projects totaling 446 MW in Spain. The transaction has an enterprise value of €368 million (~$397.88 million).
In December last year, Masdar acquired Saeta Yield from Brookfield Renewable Partners for an enterprise value of €1.2 billion (~$1.25 billion) and an equity value of €696 million (~$725.56 million).
According to Mercom’s Annual and Q4 2024 Solar Funding and M&A Report, 217 large-scale solar project acquisitions totaling 37.7 GW were transacted in 2024, compared to 231 transactions totaling 45.4 GW in 2023.
This month, British Solar Renewables (BSR), an integrated solar project developer in the U.K., announced the acquisition of the Little Crow solar project from INRG Solar, a solar project developer. The project includes a 150 MWp solar installation co-located with a 60 MW battery energy storage system.
