UAE’s renewables developer Masdar has acquired a 234-MW solar project in Spain’s Valencia region, which has the potential to be coupled with a battery energy storage system (BESS) of 259 MW.
The purchase was carried out through Saeta Yield, a platform which Masdar bought in late 2024. The UAE group said on Thursday that the latest investment is aligned with its target to have 100 GW of global clean energy capacity by 2030.
Touted as one of the largest photovoltaic (PV) projects in Valencia, the Valle Solar scheme was originated by a joint venture of Genia Solar Energy and Solar Ventures. It calls for the construction of a solar park in the municipalities of Ayora, Jarafuel and Zarra that could be subsequently hybridised if a co-located battery is installed.
The solar park is expected to go online in the first half of 2027.
“[..] this investment agreement not only advances the energy sector, but also establishes a model of collaboration that can be replicated in future projects,” Masdar said.
Masdar, owned by sovereign wealth fund Mubadala, ADNOC and TAQA, this week agreed to buy a 49.99% stake in a 446-MW solar portfolio of Endesa SA (BME:ELE) in Spain as it seeks to further enhance its position in the Iberian Peninsula. The UAE group is also supposedly assessing options for the potential acquisition of TotalEnergies SE’s (EPA:TTE) renewable energy assets in Portugal, as Reuters reported recently.
