ABU DHABI: Exus Renewables has signed an agreement with Abu Dhabi Future Energy Company PJSC, known as Masdar, to acquire a 60% stake in Masdar’s Portuguese wind portfolio, the companies said. The transaction covers nine onshore wind farms in northern and central Portugal. Masdar will retain a 40% stake in the assets, according to the announcement. Financial terms of the deal were not disclosed, and the companies did not provide a closing date in the statement.
Exus Renewables agrees to buy 60% stake in Masdar wind portfolio in Portugal.
The wind farms are located in the districts of Guarda and Castelo Branco and currently have a combined operational capacity of 144 megawatts, Masdar said. The portfolio is undergoing repowering that is intended to lift total operational capacity to 164 megawatts. The projects have entered the final development phase of repowering, with completion expected by 2027, the company said. Masdar said that once fully operational, the repowered sites are expected to supply electricity for more than 200,000 households and avoid about 41.7 kilotons of carbon dioxide emissions each year.
Masdar said the agreement also includes plans to hybridize the portfolio by adding 110 megawatts of solar capacity that Masdar and Exus will co-develop alongside the wind assets. The companies described the combination of repowering and solar integration as part of an approach to increase output from existing sites. The announcement did not detail the permitting pathway for the solar component, the contracting structure for power sales, or how operations and governance responsibilities will be allocated between the partners following the stake sale.
Repowering And Solar Addition
Repowering is a common industry term for upgrading existing wind sites, typically through turbine and equipment replacement or modernization, to improve performance and extend operating life. Masdar described the work under way in Portugal as one of the country’s first large-scale repowering initiatives. The company said the wind projects are already operating and that the upgrades are being advanced while maintaining the existing portfolio as an active generator of renewable electricity.
Masdar said it is a global clean energy developer and operator and that it is owned by three Abu Dhabi shareholders: Abu Dhabi National Oil Company, Abu Dhabi National Energy Company PJSC, known as TAQA, and Mubadala Investment Company. The company has expanded its renewables footprint across multiple markets, and it has stated a target to reach 100 gigawatts of global portfolio capacity by 2030. Masdar said the Portugal transaction reflects a partnership structure in which it retains a minority interest while proceeding with upgrades and additional generation plans.
Portugal Wind Portfolio Deal
Exus Renewables described itself as a global energy solutions provider with activities spanning renewable project investment, development, operations and advisory services. In the announcement, Exus Chief Executive Officer Luis Adão da Fonseca said the transaction strengthens the company’s operational presence in Europe and is centered on repowering to unlock additional capacity from existing wind sites. Masdar Chief Executive Officer Mohamed Jameel Al Ramahi said the companies intend to enhance performance and long-term value through repowering and hybridization, and that partnerships are a component of Masdar’s portfolio management approach.
Masdar said the initiative aligns with Portugal’s energy transition roadmap, which targets 10.4 gigawatts of onshore wind capacity by 2030 and net zero by 2045, and it said the repowering and planned solar integration contribute to capacity growth and system optimization in the country’s power sector – By Content Syndication Services.