masdar

Emirati state-owned renewable energy project developer Masdar has entered the Philippines market with plans to develop 1GW of solar PV, wind and battery energy storage systems (BESS).

Masdar acquired 70% of Terna Energy’s outstanding shares at €20 per share, valuing the company at an enterprise value of €3.2 billion.

Masdar plans to develop including over 6GW of new solar capacity and 4GW of new solar manufacturing capacity in Egypt.

Saudi Arabia has awarded the 2GW Al Sadawi solar project to a consortium led by Masdar, and signed a PPA to acquire power from the project.

The financing covers two solar PV plants, which include the 445MW Bilasuvar PV plant and the 315MW Neftchala solar project.

Masdar and the Albania Power Corporation (KESH) have announced plans to build a “gigawatt-scale” renewable power portfolio in Albania.

The fifth round of the National Renewable Energy Programme (NREP) sought proposals for 3.6GW of solar PV capacity across four projects.

The deal was first announced in March when Masdar said it would buy the 50% stake in Terra-Gen previously owned by Energy Capital Partners.

EDF Renewables, the Korea Western Power Company (KOWEPO) and Masdar have reached financial close for the 1.5GW Al Ajban solar project.

Masdar would acquire a minority stake in Enel Green Power Spain Solar which owns an operational solar PV portfolio of 2GW in Spain.