Brookfield Renewable Partners (BEP) and its institutional partners agreed to sell renewable power assets developer Saeta Yield to Abu Dhabi Future Energy - Masdar for an implied enterprise value of around $1.4 billion, the parties said Tuesday.
The acquisition includes 745 megawatts of wind and solar assets, including 538 MW of wind assets in Spain, 144 MW of wind assets in Portugal, and 63 MW of solar PV assets in Spain, as well as a 1.6 gigawatt development pipeline.
The deal is expected to close by the end of 2024, subject to customary approvals.
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