Contributing to the acceleration of clean energy production in Iberia

With their unique geographic and climatic advantages, Spain and Portugal have set ambitious targets in terms of renewable power capacity. According to the IEA, Spain focuses on the massive development of renewable energy. Wind represented 22% of the country’s total electricity generation in 2023*. As for Portugal, it is an international leader for integration of wind generation, with wind being one of the largest sources of total electricity generation in the country in 2023 (27%)**. 

Saeta Yield is a leading independent developer, owner and operator of renewable power assets with capabilities across the entire value chain. It operates 28 windfarms and 10 photovoltaic plants across Portugal and Spain. 

745 MW of renewable energy assets 

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 of 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. The sale is in line with Brookfield Renewable’s asset rotation strategy to recycle capital to fund growth activities. 

The deal, one of the largest renewable transactions in the region, demonstrates Masdar’s commitment to accelerate the energy transition in Spain, Portugal and Europe, and advances its growth plans in the region. 

“We are proud to have accompanied Brookfield in the execution of their business plan through this successful transaction that contributes to accelerate clean energy development”, comments Juan Manuel Ramírez, Global Co-Head of M&A at Societe Generale. 

*https://www.iea.org/countries/spain
**https://www.iea.org/countries/portugal