- The transaction excludes a regulated portfolio of 350MW of concentrated solar power assets
- Brookfield acquired Saeta in 2018
- The deal is expected to close around the end of 2024
Brookfield Renewable has agreed to exit Saeta Yield, a Madrid-based developer, owner and operator of renewable power assets, to Masdar.
The deal, expected to close around the end of 2024, has an implied enterprise value of about $1.4 billion.
The transaction consists of a portfolio of 745MW of predominantly wind assets – 538MW of wind assets in Spain, 144MW of wind assets in Portugal and 63MW solar PV assets in Spain – and includes a 1.6GW development pipeline. It excludes a regulated portfolio of 350MW of concentrated solar power assets, which Brookfield will retain and continue to operate.
Brookfield acquired Saeta in 2018. It executed a business plan focused on divesting non-core assets, optimizing its capital structure and positioning the business for…
