Tuesday, Brookfield Renewable Partners L.P. (BEP) revealed that Masdar, a clean energy company based in the UAE, intends to acquire its subsidiary Saeta Yield, an independent renewable power asset developer for $1.4 billion.
This transaction is expected to enhance Masdar's European portfolio by adding 745 MW of wind and solar assets and a 1.6 GW development pipeline in Spain and Portugal. Meanwhile, Brookfield will maintain a regulated portfolio consisting of 350 MW of concentrated solar power assets. This acquisition supports Masdar's goal of reaching 100 GW global capacity by 2030.
The company stated that this represents one of the largest renewable energy transactions in Spain and Portugal and is pending customary approvals, with an expected closing by the end of 2024.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.