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Abu Dhabi’s clear vitality champion, Masdar, has struck a deal to amass a 50% stake in Terra-Gen, a number one US renewable vitality producer. This strategic transfer strengthens Masdar’s foothold within the booming American clear vitality market and bolsters Terra-Gen’s development trajectory.
The acquisition, introduced on March 19, 2024, sees Masdar buying the stake from Power Capital Companions (ECP), a distinguished investor in vitality transition tasks. ECP will totally exit its possession in Terra-Gen, whereas the present 50% stake held by Igneo Infrastructure Companions will stay unchanged.
This partnership aligns with Masdar’s formidable objective of building a worldwide renewable vitality portfolio exceeding 100 GW by 2030. The US market holds immense potential for Masdar, boasting the world’s second-largest renewable vitality sector. With photo voltaic and wind energy poised to turn into the dominant electrical energy sources by the mid-2030s, in accordance with US authorities projections, Masdar is strategically positioning itself to capitalize on this burgeoning market.
Terra-Gen presents a priceless asset for Masdar. Established in 2007, the corporate is a significant participant within the US renewable vitality panorama, boasting a confirmed observe file in creating, financing, and working utility-scale clear vitality tasks. Terra-Gen at present manages a portfolio of wind and photo voltaic property exceeding 2.4 GW throughout the US.
The acquisition is predicted to be finalized by the top of 2024, topic to regulatory approvals. This collaboration between Masdar and Terra-Gen is anticipated to speed up the event and deployment of fresh vitality tasks within the US, contributing considerably to the nation’s decarbonization objectives. By combining Masdar’s monetary muscle and international experience with Terra-Gen’s established presence and growth prowess, the partnership presents a formidable pressure within the US renewable vitality sector.
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