Abu Dhabi’s Masdar shortlisted alongside Norges Bank and Fortescue for Iberdrola’s €900 million solar asset sale in Spain
Abu Dhabi’s renewable energy giant Masdar continues to expand its global footprint in clean energy investments, now emerging as one of the three shortlisted bidders for a 49% stake in Proyecto Julieta, a substantial solar power portfolio owned by Spanish energy leader Iberdrola.
According to Bloomberg, which cites anonymous sources close to the matter, Masdar is joined by Norway’s sovereign wealth fund manager, Norges Bank, and Australia’s Fortescue in the bidding race. Iberdrola is reportedly seeking a total valuation of at least €900 million (US$1.04 billion) for the assets, underlining the significance of the transaction in Europe’s clean energy landscape.
This latest move follows Masdar’s recent strategic collaboration with Iberdrola on the 1.4-gigawatt East Anglia Three offshore wind project in the United Kingdom — a deal that signaled deeper cooperation between the two companies in the renewable energy space.
Proyecto Julieta, part of Iberdrola’s broader solar portfolio, marks another key opportunity for Masdar to enhance its investment in Europe’s decarbonization efforts. The acquisition would also align with the UAE’s broader sustainability goals and Masdar’s ambition to double its renewable energy capacity by 2030.
As the bidding process progresses, industry analysts are watching closely to see whether Masdar will secure this latest European asset, which would further bolster its reputation as a global leader in renewable energy development and investment.
