Exus Renewables, a leading global energy solutions provider, has signed an agreement with Abu Dhabi Future Energy Company - Masdar, a global clean energy leader, to acquire a 60% stake in a portfolio of nine wind farms in Portugal. Following the transaction, Masdar will retain a 40% stake in the portfolio.
The operational capacity of the portfolio, located in Guarda and Castelo Branco, is currently being increased in one of Portugal’s first large-scale repowering initiatives, taking overall capacity from 144MW to 164MW.
The projects have entered the final development phase of repowering, with completion expected by 2027. Once fully operational, the repowered sites will generate clean, sustainable electricity for more than 200,000 households, avoiding approximately 41.7 kilotons of CO₂ emissions every year.
"Repowering unlocks significant new renewable capacity from existing sites. Together with Masdar, we are scaling this approach in Portugal as part of Exus’ optimisation-led growth strategy," said Luis Adão da Fonseca, CEO at Exus Renewables.
"This deal significantly strengthens Exus’ operational presence across Europe and underscores our innovative approach to maximising the performance and value of renewable assets. We’re delighted to be working with Masdar on this highly strategic project," he stated.
On the strategic deal, Masdar CEO Mohamed Jameel Al Ramahi said: "Through repowering and hybridisation, we are enhancing the performance and long-term value of these sites, underscoring our innovative approach to asset management. Disciplined portfolio management and partnership are fundamental aspects of our growth strategy, and we are proud to be working with Exus as we continue to deliver clean, affordable, and reliable power to communities across Portugal."
The repowering initiative includes plans for hybridisation, adding 110MW of solar, to be codeveloped by Masdar and Exus, which would further enhance the portfolio’s capacity and contribution to national clean energy targets.
This comes as part of Masdar's strategy as it is targeting expansion across the Iberian Peninsula and Europe, with the aim of clocking a global portfolio capacity of 100GW by 2030.- TradeArabia News Service
