Lisbon, Portugal – Abu Dhabi Future Energy Company “Masdar” announced the signing of an agreement with “Exos Renobels”, a global provider of energy solutions.
Under it, the latter acquires a 60 percent stake in Masdar’s portfolio, which includes nine wind energy projects in Portugal.
While Masdar maintains a 40% stake in this portfolio.
Work is currently underway to increase the production capacity of wind power plants in Guarda and Castelo Branco from 144 MW to 164 MW, as part of one of the first initiatives to enhance large-scale production capacity in Portugal.
The work has reached its final stage and is expected to be completed by 2027.
When fully operational, the plants will provide clean and sustainable electricity to more than 200,000 homes, while helping to avoid releasing about 41.7 thousand tons of carbon dioxide emissions annually.
The initiative to enhance production capacity includes plans to develop hybrid energy projects and add 110 megawatts of solar energy projects.
Which will be jointly developed by Masdar and Exos.
This will contribute to strengthening the portfolio’s capacity and supporting the achievement of national clean energy goals.
Project development
This initiative is in line with efforts to develop Portugal’s energy sector, which aim to reach 10.4 gigawatts of production capacity by developing onshore wind energy projects by 2030 and achieving climate neutrality by 2045.
By enhancing the production capacity of the plants and integrating hybrid solar energy projects, these projects will contribute to enhancing production capacity and raising efficiency.
As Exos’ activities grow across Europe, the company is establishing itself as an integrated energy platform that works across all stages of the value chain, from early-stage development and project improvement to asset management and hybrid projects, with the aim of providing comprehensive and integrated energy solutions.
Masdar aims to expand throughout the Iberian Peninsula and Europe.
The company aims to increase the production capacity of its project portfolio to 100 gigawatts by 2030.
Today, Masdar is one of the world’s largest developers and operators of renewable energy, with platforms to grow in the world’s most commercially attractive and fastest-growing energy markets.
