Cepsa and Masdar ink agreement for 600 MW of renewables in Iberia

Energy giants Abu Dhabi Future Energy Company (Masdar) and Cepsa have signed a partnership agreement for the development of 500-600 MW of wind and solar capacity on the Iberian peninsula. Both companies are wholly owned by Abu Dhabi’s sovereign wealth fund the Mubadala Investment Company.

Spain and Portugal are being lauded as hot renewables markets for 2019. A policy u-turn by Spain’s new government which abolished the solar tax and committed to installing more renewable capacity last year put the nation back on the list of candidates to be Europe’s solar king. A range of large-scale PPAs – many apparently subsidy free – have caught the industry’s attention.

The announcement regarding the partnership agreement was made on the margins of this week’s Abu Dhabi Sustainability Week. Read more