Brookfield Renewable Partners selling Saeta to Masdar for $1.4B

Brookfield Renewable Partners announced the proposed sale of Saeta Yield to the UAE’s Masdar, a clean energy company, for an implied enterprise value of c. $1.4B. Closing of the transaction is subject to customary approvals and is expected to occur around the end of 2024. Saeta is an independent developer, owner and operator of renewable power assets with capabilities across the entire value-chain. The transaction consists of a portfolio of 745 MW of predominantly wind assets and includes a 1.6 GW development pipeline. The transaction excludes a regulated portfolio of 350 MW of concentrated solar power assets, which Brookfield will retain and continue to operate.