Masdar Expands in Europe with EUR 368M Solar Portfolio Acquisition from Enel Green Power Espana
EUR 184 million investment by Masdar adds 446MW solar capacity to its European portfolio, bringing Masdar’s total gross operational capacity in the Iberian Peninsula to 3.2 GW.
October 04, 2025. By Abha Rustagi
The transaction represents a deployment of EUR 69 million in equity by Masdar, with an additional EUR 115 million of acquisition financing. The move adds 446 MW of operational solar capacity to the company’s European portfolio, while supporting Masdar’s strategy to scale renewable energy capabilities across the Iberian Peninsula and wider Europe.
The agreement consolidates the strategic partnership between the two companies, after Masdar acquired a 49.99 percent stake in 2 GW of solar assets from Endesa in 2024. The deal was one of Spain’s largest renewable energy transactions in recent years and includes plans to add up to 0.5 GW of battery storage. This latest transaction brings Masdar’s total gross operational capacity in the Iberian Peninsula to 3.2 GW, with more than 2 GW of development pipeline.
These operating assets further Masdar’s commitment to advancing the region’s renewable energy ambitions and supporting the EU reach its 2050 net-zero targets. Earlier in the year, Masdar and global energy leader Enel Group signed a Memorandum of Understanding (MoU) to explore potential renewable energy opportunities in countries including Italy, Spain, and Germany.
“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,” said Mohamed Jameel Al Ramahi, CEO, Masdar.
“We are pleased with the closing of this transaction, which represents another milestone in Enel’s long-term partnership with Masdar. We look forward to continuing to work together in accelerating the energy transition,” added Flavio Cattaneo, CEO, Enel Group.
BNPP acted as the transaction advisor, Linklaters as legal advisor, UL as technical advisor, and PwC as Masdar’s tax and finance advisor. The acquisition was partially funded via financing from BNPP, Santander, Intesa Sanpaolo, ADCB, and FAB.
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