Saeta, a subsidiary of United Arab Emirates-based Masdar, has completed the acquisition of the Valle Solar project, one of the largest solar photovoltaic (PV) projects in the Valencia region of Spain.
The acquisition underscores Masdar’s commitment to expanding its renewable energy footprint in the country and aligns with its global clean energy portfolio target of 100GW by 2030. It also supports Saeta’s growth plans in the Iberian Peninsula and Europe.
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The Valle Solar project, initially promoted by Genia Solar Energy and Solar Ventures, therefore marks a significant step in Masdar’s expansion strategy in Spain.
Located in the municipalities of Ayora, Jarafuel and Zarra, the project is expected to become operational in the first half of 2027.
It will feature a 234MW solar PV plant with the potential addition of a 259MW battery energy storage system (BESS).
Valle Solar will integrate initiatives supporting biodiversity and local communities, reflecting Masdar’s commitment to sustainability and social responsibility.
The agreement between Saeta Yield, Genia Solar and Solar Ventures establishes Valle Solar as a model of sustainable development, combining clean energy production with environmental respect and community commitment.
Solar Ventures and Genia Solar Energy were advised by Watson Farley & Williams, G-advisory, EY and Finergreen, while Saeta Yield received advice from Broseta, Solida and Pérez-Llorca.
The project will contribute significantly to decarbonisation and strengthen the local economy.
Masdar is also in advanced discussions to acquire a 49.9% stake in a solar portfolio from Spain’s Endesa for $200m.
The potential deal, involving a 450MW portfolio, is in line with Masdar’s expansion strategy for its European operations, particularly in Spain.
The acquisition supports the strategy of Endesa’s parent company Enel to manage debt through divesting minority stakes while retaining asset control.
