"source" and"Indesa" They complete the financial closure of the acquisition of the assets of solar energy at 1.5 billion dirhams
Abu Dhabi, October 2/ WAM/ Abu Dhabi Future Energy Company “Masdar” announced today, the completion of its acquisition of a stake of 49.99% in an investment portfolio with a total value of 1.5 billion dirhams “368 million euros”, and includes four projects for solar power stations under operation, from the “Anil Green Power Spain” company of Indesa, one of the leading companies in the sector Electricity in Spain, which is included in the Anil Group.
The deal includes an investment for the “Masdar” company, which amounted to 296 million dirhams “69 million euros”, in addition to additional financing of 493 million dirhams “115 million euros”.
This investment contributes to enhancing the capabilities of a source of renewable energy source in the Iberian Peninsula and the whole of Europe, and it adds 446 MW of solar energy to the company’s portfolio in Europe.
This step contributes to strengthening the strategic partnership between the two companies, after a “source” acquired a stake of 49.99% in solar energy projects with a production capacity of 2 GWews from Indesa last year.
The deal represents one of the largest renewable energy deals in Spain in recent years, and includes plans to add a 0.5 GB power batteries, thus reaching the total production capacity of “Source” projects on the Iberian Peninsula to 3.2 GW, with projects under development that exceeded production capacity for 2 GW.
And “Masdar”, through these projects, contributes to supporting the region’s ambitions in the field of renewable energy and achieving the goals of the European Union to reach climate neutrality by 2050, as “Masdar” and the world’s leading energy group in the field of energy, early last year, signed a memorandum of understanding to explore possible opportunities to develop renewable energy projects in several countries, including Italy, Spain and Germany.
Mohamed Jamil Al -Ramahi, CEO of Masdar, said that this acquisition is consistent with the global “Masdar” strategy to expand its presence and capabilities in the renewable energy sector, and to confirm its firm commitment to Europe.
He expressed his confidence that strengthening partnership with Indesa through this deal will play a pivotal role in supporting the development of the Spanish renewable energy sector, pointing to Spain is one of the most prominent European countries seeking to achieve a qualitative shift in the energy sector, and will remain a major focus of “source” in the coming years.
He pointed out that this acquisition paves the way for further growth, and contributes to reducing carbon emissions within the energy network, and supporting achieving climatic goals at the local and European levels.
For his part, Flavio Catanio, CEO of the “Anil Group”, said that this deal represents another prominent station in the long -term partnership between “Anil” and “Masdar”, looking forward to continuing to work together to accelerate the pace of transformation in the energy sector.
This deal would contribute to strengthening the activities of the “Masdar” company in Spain, and supporting its strategy to expand in the southern Europe.
And “Masdar”, in late 2024, ended its acquisition of Saita Yilde, one of the leading companies in the field of renewable energy in Spain and Portugal, at a value of 1.2 billion euros, which has a project portfolio of 2.3 GW.
“Saita Yildd” is currently a major center for “Source” project management on the Iberian Peninsula, while Spain is one of the most vital solar markets in the European Union, and is a basic pillar in a source of expansion in Europe.
Thanks to its strong economic position, its organizational structure, and its ambitious goals in the field of renewable energy, Spain is an important partner for the “Masdar” company in its march towards achieving its goal of raising the total productive capacity of its clean energy project portfolio to 100 GW by 2030.
Regarding the acquisition process, “Source”, “BNBB”, as a consultant to the deal, the “Linkelitters” as a legal advisor, and the company “Yu L” as a technical consultant, the “Price Waterhouse Copers” company as a tax advisor, and the acquisition was also funded through the acquisition financing department from BNB Bank, and the “Santander Bank”, and a bank “Intisa San Paulo”, Abu Dhabi Commercial Bank, and Abu Dhabi First Bank.
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