Masdar adds 234 MW to Spanish solar portfolio

Spain

VALENCIA, March 28, 2025 – Masdar, through its Spanish subsidiary Saeta Yield, has closed an investment agreement for the construction and commissioning of the 234-MW Vale Solar project in Valencia, Spain, Masdar announced on Thursday.

The plant will be located in the municipalities of Ayora, Jarafuel and Zarra and is scheduled for completion in H1 2027. It will consist of a 234-MW PV array that could potentially include a battery energy storage system of up to 259 MW. The value of Masdar’s investment was not disclosed in the announcement.

The deal follows Masdar’s acquisition of renewable power infrastructure developer Saeta Yield from Brookfield Renewables in September 2024 for USD 1.4 billion. Saeta Yield holds a 745-MW portfolio of wind and solar assets in Spain and Portugal and a 1.6-GW development pipeline.

Masdar is acquiring renewable generation assets in Spain and Europe as part of its plan to develop a global renewables portfolio of 100 GW by 2030.

On Monday, Masdar announced the acquisition from Spanish utility Endesa of a 49.99% stake in four solar assets with a combined capacity of 446 MW for EUR 184 million. The investment builds on Masdar’s EUR 817-million investment in July 2024 towards a 49.99% stake in a 2-GW portfolio of renewable assets also owned by Endesa.

Solar is a major and still-growing source of energy in Spain. As of end-2023, the country boasted a solar power capacity of around 256 GW, according to the Energy Institute.