Masdar to Expand Endesa Partnership in €368 Million Renewable Energy Transaction, Strengthening Presence on Iberian Peninsula

• Masdar set to invest €184 million to acquire 49.99% of four Endesa solar assets in Spain with a capacity of446 MW, subject to regulatory approvals and other conditions
• Agreement will build upon Masdar’s 2024 acquisition from Endesa in Spainof a49.99%stakein 2GW portfolio of solar assets, with a potential BESS hybridization of up to 0.5GW
• Proposed agreement will further strengthen Masdar’s position in one of EU’s largest solar markets, supporting Spain’s NECP targets and the EU’s Net Zero 2050 goal
• As one of the world’s fastest-growing renewable energy companies, Masdar has a current capacity of more than 50 GW and is targeting 100GW by 2030

Madrid, Spain; Abu Dhabi, UAE, March24, 2025 – Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy leader, announced today an agreement with Endesa S.A. to acquire a 49.99 percent stake in four solar plants in Spain, with a total capacity of 446 megawatts (MW). The transaction, which is subject to regulatory approvals and other conditions, would see Masdar invest €184 million forthestake in theassets, which have an enterprise value of €368 million.

These operating assets mark a significant milestone in Masdar’s continued growth in the Iberian Peninsula and acrossEurope, and further its commitment to advancing the region’s renewable energy ambitions.The proposed acquisition follows last year’s agreement between Masdar and Endesa to partner in a portfolio of over 2GW of solar assets, with the potential to add 0.5GW of battery storage, in one of Spain’s biggest renewable energy transactions in recent years.

Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said:”This acquisition further reflects Masdar’s commitment to supporting Europe’s decarbonization goals and advancing the global energy transformation. It also marks another significant step in our strategic expansion in the Iberian Peninsula and Europe, adding to our growing portfolio on the continent. Strengthening our partnership with Endesa positions us to unlock new renewable energy opportunities across Europe and beyond, while driving sustainable growth and boosting prosperity.”

“With this transaction, we are renewing the cooperation launched last year with a major player such as Masdar,” Flavio Cattaneo, Enel Group CEO, said. “The agreement signed today demonstrates our commitment to accelerate the energy transition also in partnership with large international industrial groups, in line with our Strategic Plan.”

Masdar’scontinued partnership with Endesa is expected to play a significant role in helping Spain meet its National Energy and Climate Plan (NECP) targets.Last year, Masdar also acquired Saeta, an established renewables platform with an operating portfolio of 745MW of predominantly wind assets, and a 1.6GW development pipeline in Spain and Portugal.This latest transaction brings Masdar’s total operational capacity in the Iberian Peninsula to 3.2GW.

Masdar is committed to supporting the EU reach its 2050 net-zero targets. Last month, Masdar and global energy leader Enel Group, to which Endesa belongs, signed a Memorandum of Understanding (MoU) to explore potential renewable energy opportunities in countries includingItaly, Spain, and Germany.