Abu dhabi: Abu Dhabi Future Energy Company PJC - Masdar has signed an agreement with Exus Renewables, a global energy solutions provider, under which Exus will acquire a 60 percent stake in a portfolio of nine wind farms in Portugal. Masdar will retain a 40 percent stake in the portfolio.
According to Emirates News Agency, the operational capacity of this portfolio, located in Guarda and Castelo Branco, is being increased as part of one of Portugal's first large-scale repowering initiatives. This initiative will boost the overall capacity from 144MW to 164MW. The projects have entered the final development phase of repowering, with completion expected by 2027. Once fully operational, these repowered sites will generate electricity for over 200,000 households, avoiding around 41.7 kilotons of CO2 emissions annually.
Mohamed Jameel Al Ramahi, CEO of Masdar, emphasized the enhancement of performance and long-term value of these sites through repowering and hybridisation. This strategic move highlights Masdar's approach to asset management. Luis Ado da Fonseca, CEO at Exus Renewables, stated that repowering unlocks significant renewable capacity from existing sites. He noted that this deal strengthens Exus' presence across Europe and highlights their approach to maximizing the performance and value of renewable assets.
The repowering initiative includes plans for hybridisation, with an addition of 110MW of solar to be developed by Masdar and Exus. This would enhance the portfolio's capacity and support national clean energy targets. This initiative aligns with Portugal's energy transition roadmap, which aims for 10.4 GW of onshore wind capacity by 2030 and achieving net zero by 2045.
Exus is accelerating its expansion across Europe, positioning itself as an integrated energy platform operating across the value chain from early-stage development to asset management and hybridisation. Meanwhile, Masdar is targeting expansion across the Iberian Peninsula and Europe, aiming for a global portfolio capacity of 100GW by 2030, as one of the world's largest developers and operators of renewables.