"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. US $1.4 billion," the company said in a statement on Tuesday, adding that the deal is expected to close in late 2024.
The deal includes Saeta's wind and solar power plants in Spain and Portugal with a total capacity of 745 megawatts, as well as 1.6 gigawatts of planned capacity in new projects, the statement added.