Masdar buys stake in Spanish renewables portfolio

Abu Dhabi future energy company Masdar has acquired a stake in Spanish energy company Repsol for €849 million ($981 million).

The 49.99 percent stake will include 705 megawatts (MW) of operational capacity across 13 wind farms (402 MW) and six photovoltaic solar parks (303 MW), Masdar said in a statement.

The portfolio also includes 565 MW of potential pipeline growth, comprising wind, solar and battery storage.

The agreement was signed in Abu Dhabi by Masdar CEO Mohamed Jameel Al Ramahi and João Costeira, executive managing director of low-carbon generation at Repsol.

“Spain is one of Europe’s fastest-growing major economies, and renewable energy is playing a critical role in powering that growth,” Al Ramahi said.

The transaction is expected to close toward the end of 2026.

Masdar is doubling down on artificial intelligence and renewable energy expansion globally as it pushes ahead with plans to deliver 100 gigawatts (GW) of capacity by 2030.

Speaking about the role of AI in the sector, Abdulla Al Kayoumi, managing director at Masdar Specialised Technical Services, told AGBI in May: “If you look at the limitations of this industry, it’s not really software anymore. It’s hardware, energy and human adoption.”

Al Kayoumi added that Masdar’s scale as one of the world’s largest buyers of renewable technologies allows it to help reduce costs and drive affordability.

The company has deployed $45 billion in capital across six continents and exported 65 GW of renewable energy capacity worldwide, with its expansion drive stretching from Bali to California.

Masdar is owned by Abu Dhabi’s state-owned Taqa (43 percent), Mubadala (33 percent) and Adnoc (24 percent).

Further reading:

• Hormuz won’t spur a renewable revolution, experts say
• Masdar pushes ahead with $45bn deployment despite war
• Masdar JV gets development approval for UK wind farms