Masdar has finalised the acquisition of a 49.99 per cent stake in a €368 million solar portfolio from Enel Green Power España, a subsidiary of Endesa S.A.. The portfolio consists of four operational solar projects in Spain, with a cumulative capacity of 446 MW. The transaction includes €69 million in equity from Masdar and €115 million through acquisition financing.
The portfolio acquisition was supported by financing from BNPP, Santander, Intesa Sanpaolo, ADCB, and FAB. Additionally, for the transaction, BNPP acted as the transaction advisor, Linklaters as the legal advisor, UL as the technical advisor, and PwC as Masdar’s tax and finance advisor. With this addition, Masdar’s total operational capacity in the Iberian region has reached 3.2 GW, along with a development pipeline of more than 2 GW.
In September 2025, Masdar, as part of a consortium with OQ Alternative Energy, Al Khadra Partners, and Korea Midland Power, signed a power purchase agreement with Nama Power and Water Procurement for the Ibri III Solar Independent Power Project in Oman. The project comprises a 500 MW utility-scale solar plant, integrated with a 100 MWh battery energy storage system.