"Exos Renewables" Acquires a share in a portfolio "source" For wind energy projects in Portugal

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Lisbon – Portugal, February 27 / WAM / Abu Dhabi Future Energy Company “Masdar” announced the signing of an agreement with “Exos Renewables”, a global provider of energy solutions, under which the latter will acquire a 60 percent stake in “Masdar’s” portfolio, which includes nine wind energy projects in Portugal, while “Masdar” maintains a 40 percent stake in this portfolio.

Work is currently underway to increase the production capacity of the wind power plants in Guarda and Castelo Branco from 144 MW to 164 MW, as part of one of the first large-scale production capacity enhancement initiatives in Portugal.

The works have reached their final stage, and are expected to be completed by 2027. The stations, when fully operational, will provide clean and sustainable electricity to more than 200,000 homes, while contributing to avoiding the release of about 41.7 thousand tons of carbon dioxide emissions annually.

Mohammed Jameel Al Ramahi, CEO of Masdar, said that increasing the production capacity of existing plants and developing hybrid power plants contributes to enhancing their operational efficiency and increasing their value in the long term, which embodies the company’s innovative approach to asset management. He pointed out that Masdar’s growth strategy relies on two basic pillars: managing its investment portfolio according to thoughtful and disciplined principles, and building fruitful strategic partnerships.

For his part, Luis Adao, CEO of Exos Renewables, said that the process of enhancing the production capacity of existing plants will contribute to providing more renewable energy supplies.

He added that the company is working with Masdar to establish this trend in Portugal within the framework of the Exos strategy to achieve growth based on improving efficiency, pointing out that this deal will enhance the operational capabilities of Exos in various parts of Europe, and consolidate its innovative approach to raise the level of performance and value of renewable energy assets.

The initiative to enhance production capacity includes plans to develop hybrid energy projects and add 110 megawatts of solar energy projects, which will be jointly developed by Masdar and Exos, which will contribute to enhancing the portfolio’s capacity and supporting the achievement of national clean energy goals.

This initiative is in line with the efforts aimed at developing the energy sector in Portugal, which aims to reach 10.4 gigawatts of production capacity through developing onshore wind energy projects by 2030 and achieving climate neutrality by 2045.

By enhancing the production capacity of the plants and integrating hybrid solar energy projects, these projects will contribute to enhancing production capacity and raising efficiency.

As Exos grows across Europe, the company is positioning itself as an integrated energy platform that works across all stages of the value chain from early stage development and project optimization to asset management and hybrid projects, with the aim of providing comprehensive and integrated energy solutions.

Masdar aims to expand throughout the Iberian Peninsula and Europe, as the company aims to raise the production capacity of its project portfolio to 100 GW by 2030. Today, Masdar is one of the largest developers and operators of renewable energy in the world, with platforms for growth in the most commercially attractive and fastest-growing energy markets in the world.