Masdar in talks to Acquire Saeta from Brookfield for $1.4 Billion
London, September 24, 2024, (Oilandgaspress) ––– Abu Dhabi Future Energy Company PJSC – Masdar announced the proposed acquisition of Saeta Yield from Brookfield Renewable, 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.
Saeta is a leading independent developer, owner and operator of renewable power assets with capabilities across the entire value-chain. The transaction consists of a portfolio of 745 megawatts (MW) of predominantly wind assets – 538MW of wind assets in Spain, 144MW of wind assets in Portugal and 63MW solar PV assets in Spain – and includes a 1.6 gigawatt (GW) development pipeline. The transaction excludes a regulated portfolio of 350MW of concentrated solar power assets, which Brookfield will retain and continue to operate.
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