Masdar to acquire ‘Saeta’ from Brookfield for $1.4 billion

Abu Dhabi, Abu Dhabi Future Energy Company (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 (pound 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, WAM reported. 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. Source: Bahrain News Agency