Link Securities | Endesa has closed a deal with Masdar, a leading clean energy company in the United Arab Emirates, to sell a minority stake equivalent to 49.99% of the share capital of EGPE Solar 2, a wholly-owned entity that brings together four of Endesa’s photovoltaic assets in operation in Spain, with a total installed capacity of around 446 MW.
Under the agreement signed on 24 March 2025, Masdar has paid €184 million for the acquisition of this stake, subject to the usual adjustments in this type of transaction. The enterprise value of 100% of EGPE Solar 2 recognised in the agreement is equal to €368 million. This transaction is in addition to the collaboration agreement that the Enel Group (ENEL-IT) and Masdar signed in December 2024, which referred to a portfolio of 2 GW of other solar assets already in operation in Spain. The sale is part of Endesa’s ‘Partnership’ business model, included in its 2025-2027 Strategic Plan, which seeks to maintain control of strategic assets while maximising productivity and return on invested capital.
