Abu Dhabi state clean energy firm Masdar on 24 September announced an agreement to acquire Saeta Yield from US investment firm Brookfield for $1.4bn. The deal is expected to close around the end of 2024. Saeta is a renewables developer with 745MW of predominately wind power assets in Spain and Portugal, with a further 1.6GW development pipeline. The deal was announced on the sidelines of Climate Week in New York.
Saeta’s current capacity is comprised of 17 wind farms with 538MW capacity in Spain, nine wind farms with 144MW capacity in Portugal and 17 solar PV assets with 63MW capacity in Spain. The firm was acquired by Brookfield in 2018 for $1.1bn, and Saeta CEO Alvaro Perez de Lima says that six years later “we look forward to working with Masdar to take Saeta to the next phase of its growth story, further consolidating its leadership position as an independent producer of renewable energy in Iberia.” (CONTINUED - 960 WORDS)
