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 conditions.

Masdar 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 target.

Agreement 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 2030.

（Picture: Veer）