Abu Dhabi Future Energy Company (Masdar) is selling a 60% stake in its Portuguese wind portfolio to Exus Renewables.
Masdar will retain a 40% interest in nine wind farms in Guarda and Castelo Branco after agreeing to sell the majority stake in the portfolio. Financial details were not disclosed.
The operational capacity of the portfolio is currently being expanded, rising from 144MW to 164MW. The projects have entered the final repowering phase of development, with completion scheduled for 2027.
The repowering initiative includes plans for hybridisation, adding 110MW of solar, to be codeveloped by Masdar and Exus.
Luis Adão da Fonseca, CEO at Exus Renewables, said: “Repowering unlocks significant new renewable capacity from existing sites. Together with Masdar, we are scaling this approach in Portugal as part of Exus’ optimisation-led growth strategy.
“This deal significantly strengthens Exus’ operational presence across Europe and underscores our innovative approach to maximising the performance and value of renewable assets. We’re delighted to be working with Masdar on this highly strategic project.”
Mohamed Jameel Al Ramahi, CEO of Masdar, said: “Through repowering and hybridisation, we are enhancing the performance and long-term value of these sites, underscoring our innovative approach to asset management.
“Disciplined portfolio management and partnership are fundamental aspects of our growth strategy, and we are proud to be working with Exus as we continue to deliver clean, affordable, and reliable power to communities across Portugal.”
To read the latest IPE Real Assets magazine click here.
