https://bep.brookfield.com/press-releases/bep/masdar-acquire-saeta-brookfield-14-billion ABU DHABI, United Arab Emirates and MADRID, Sept. 24, 2024 (GLOBE NEWSWIRE) -- Abu Dhabi Future Energy Company PJSC - Masdar (“Masdar”), the UAE’s clean energy powerhouse, today announced the proposed acquisition of Saeta Yield (“Saeta”) from Brookfield Renewable (NYSE: BEP, BEPC; TSX: BEP.UN, BEPC), together with its institutional partners (“Brookfield”), for an implied enterprise value of c. $1.4 billion (€1.2 billion). Closing of the transaction is subject to customary approvals and is expected to occur around the end of 2024.
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 Spain, 144 MW of wind assets in Portugal and 63 MW solar PV assets in Spain – and includes a 1.6 gigawatt (GW) development pipeline. The transaction excludes a regulated portfolio of 350 MW of concentrated solar power assets, which Brookfield will retain and continue to operate.