Masdar acquiring nearly 50% stake in four solar energy plants from Spain's Endesa

Abu Dhabi clean energy company Masdar has completed its acquisition of a 49.99% stake in a €368 million ($432 million) portfolio of four operational solar photovoltaic plants from Endesa in Spain, expanding its presence in Europe.

The transaction includes €69 million in equity by Masdar, with an additional €115 million of acquisition financing, the Abu Dhabi National Energy Company (Taqa), which has a stake in Masdar, said in a filing to the Abu Dhabi Securities Exchange on Thursday.

It adds 446 megawatts of gross operational solar PV capacity to Masdar’s portfolio. It also brings Masdar’s total gross operational capacity in the Iberian Peninsula to 3.2 gigawatts, with more than two gigawatts of development pipeline.

Read the original article in The National: Masdar acquires nearly 50% stake in four solar energy plants from Spain’s Endesa