Brookfield, advised by Iberian law firm Uría Menéndez, will continue to operate a regulated portfolio of 350 MW of concentrated solar power assets, which are excluded from the deal. M&A and private equity partners Manuel Echenique and Alex Bircham are leading the legal team for Brookfield, supported by transaction advisers Santander and Société Générale.
Renewable Energy Market Consolidation
Mark Carney, chair of Brookfield and former governor of the Bank of England, highlighted the importance of the deal in consolidating Brookfield’s footprint in the Iberian market and advancing global clean energy goals. Both Brookfield and Masdar are committed to accelerating the transition toward a net-zero economy.
This transaction follows a similar move by Masdar earlier in 2023, when it agreed to purchase half of Spanish utility company Endesa’s solar installations for €817 million ($910 million), further solidifying its role in the European renewable energy market.
