- As an established renewables platform equipped with end-to-end capabilities and strong growth opportunities, Saeta strengthens Masdar’s footprint in the
Iberian Peninsula - Successful execution of Brookfield’s business plan resulted in significant value creation and growth of Saeta
- The transaction would see Masdar acquire a portfolio of 745 MW of predominantly wind assets, and a 1.6 GW development pipeline in
Spain andPortugal - Deal advances Masdar’s growth plans in the region, representing one of
Spain and Portugal’s largest renewable energy transactions, as the company targets global capacity of 100 GW by 2030
Saeta is a leading independent developer, owner and operator of renewable power assets with capabilities across the entire value-chain. The transaction consists of a portfolio of 745 megawatts (MW) of predominantly wind assets – 538 MW of wind assets in
Since acquiring the business in 2018, Brookfield has worked closely with Saeta’s management team to successfully execute a business plan focused on divesting non-core assets, optimizing its capital structure, and positioning the business for growth through hybridization, repowering, greenfield development and accretive tuck-in opportunities. The sale is in line with Brookfield Renewable’s asset rotation strategy to recycle capital to fund growth activities.
Representing one of Spain’s largest renewable energy transactions, the deal further cements Masdar’s position in the country, in one of Europe’s largest renewable markets. The deal demonstrates Masdar’s commitment to accelerating the energy transition in
HE Dr
“Masdar is committed to accelerating the delivery of clean energy capacity across the
“With an operating capacity of 745 MW of predominantly wind assets, and a 1.6 GW development pipeline in
“We are pleased to have successfully supported Saeta throughout our ownership, having worked closely with the business to scale and optimize its renewable portfolio across Iberia. The company has a strong development pipeline and a top-tier management team, and is well positioned to continue delivering incremental renewable energy to the region over the coming years under Masdar’s sponsorship.”
Álvaro Pérez de Lema, Chief Executive Officer of Saeta, said:
“After more than six years of successful and profitable growth with Brookfield, we are very excited to open a new chapter in Saeta’s history with the arrival of Masdar as the new controlling shareholder. 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.”
Advisors:
Masdar has retained Citigroup Global Markets Limited as its transaction advisor,
Brookfield retained Santander and Société Générale as its transaction advisors, Uría Menéndez as legal advisor, G-Advisory as technical advisor and
About Masdar
Masdar (
Masdar is jointly owned by TAQA, ADNOC, and Mubadala, and is targeting a renewable energy portfolio capacity of 100 GW by 2030 while aiming to be a leading producer of green hydrogen by the same year.
Brookfield Renewable
Brookfield Renewable operates one of the world’s largest publicly traded platforms for renewable power and sustainable solutions. Our renewable power portfolio consists of hydroelectric, wind, utility-scale solar and storage facilities in
Brookfield Renewable is the flagship listed renewable power and transition company of Brookfield Asset Management, a leading global alternative asset manager with approximately
Contact information:
Masdar
For media enquiries, please contact: [email protected]
For more information please visit: https://www.masdar.ae and connect: facebook.com/masdar.ae and twitter.com/masdar
Brookfield
Media:
Manager – Communications
M +44 743 605 4717
[email protected]
Investors:
Vice President – Investor Relations
(416)-649-8196
[email protected]
Cautionary Statement Regarding Forward-looking Statements
This news release contains forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Forward-looking statements can be identified by the use of words such as “will”, “expected”, “intend”, “potential”, “can” or variations of such words and phrases. Forward-looking statements in this news release include statements regarding the parties’ future expectations, beliefs, plans, objectives, financial condition, assumptions or future events or performance. Although Brookfield Renewable believes that such forward-looking statements and information are based upon reasonable assumptions and expectations, no assurance is given that such expectations will prove to have been correct. The reader should not place undue reliance on forward-looking statements and information as such statements and information involve known and unknown risks, uncertainties and other factors, including the ability of the parties to realize the expected benefits of the transaction, which may cause the actual results, performance or achievements of Brookfield Renewable to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information.
Except as required by law, Brookfield Renewable does not undertake any obligation to publicly update or revise any forward-looking statements or information, whether written or oral, whether as a result of new information, future events or otherwise.
| Title | Document |
|---|---|
| Download this Press Release |