Masdar Partners with Endesa in €1.7 Billion Renewable Energy Transaction in Spain

Masdar Partners with Endesa in €1.7 Billion Renewable Energy Transaction in Spain. Masdar Bahrain Iran Iraq Jordan Palestine United Arab Emirates Algeria Egypt Libya Morocco Sudan Tunisia Western Sahara United Kingdom United States of America Canada France Saudi Arabia Spain Qatar Germany Lebanon Kuwait Oman Switzerland Yemen Syria

The transaction would see Masdar become a partner for 2.5 gigawatts (GW) of renewable energy assets in Spain, subject to regulatory approvals and other conditionsMasdar will invest €817m to acquire a 49.99% stake in 2GW of solar energy plants, with a potential BESS hybridization for up to 0.5 GW Masdar has also signed an MoU with Endesa to explore an alliance aimed at jointly developing renewable energy projects in Spain One of Spain's biggest renewable energy transactions in recent years, the partnership is expected to play a significant role in helping Spain meet its NECP targets and the EU's net zero by 2050 targetAgreement cements Masdar's position in Spain, one of EU's largest solar markets, advancing growth plans in Europe as company targets global capacity of 100GW by 2030and connect: facebook.com/masdar.ae and twitter.com/masdar.

About Endesa

Endesa is a leading electricity company in Spain and the second largest in Portugal. It is also the second largest gas operator in the Spanish market. It undertakes end-to-end business including the generation, distribution and retailing of electricity. It also offers electric mobility services, where it is one of the main operators of charging stations in Spain, and other value-added services aimed at the electrification of energy uses in homes, companies, industries and public administrations. Endesa is firmly committed to the United Nations SDGs and strongly supports the development of renewable energies through Enel Green Power España, the digitalization of grids through e-distribución and Corporate Social Responsibility. The Endesa Foundation is also active in CSR. Our workforce numbers around 9,000 employees. Endesa is a division of Enel, the largest electricity group in Europe.

Photo: https://mma.prnewswire.com/media/2469453/Masdar_Partners_with_Endesa.jpg
Logo: https://mma.prnewswire.com/media/1973446/Masdar_Logo.jpg

 

View original content:https://www.prnewswire.co.uk/news-releases/masdar-partners-with-endesa-in-1-7-billion-renewable-energy-transaction-in-spain-302207382.html