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• Masdar to acquire 49.99% stake in €849 million, 705 MW operational portfolio with potential for 565 MW of future hybridization growth.

• Through this transaction, Repsol advances its asset rotation strategy across its renewables portfolio

• Investment supports Masdar’s strategy to expand portfolio and add high-quality operating assets in key markets

Repsol, an energy company that provides solutions for all its customers’ energy needs and Abu Dhabi Future Energy Company – Masdar, a global renewable energy leader, have signed an agreement for Masdar to acquire a 49.99% stake in a renewable energy portfolio in Spain. The transaction values the portfolio at €849 million.

The portfolio comprises 705 megawatts (MW) of operational capacity, including 13 wind farms (402 MW) and six photovoltaic solar parks (303 MW), all of which entered operation in 2025 and the first quarter of 2026. Additionally, the portfolio includes more than 565 MW of potential hybridization pipeline growth, comprising of wind, solar and battery storage. The agreement was signed in Abu Dhabi by CEO of Masdar, Mohamed Jameel Al Ramahi and João Costeira, Executive Managing Director of Low-Carbon Generation at Repsol.

Mohamed Jameel Al Ramahi, CEO of Masdar, said:

“This agreement marks another step forward in our strategy to maximize profitability, enabling us to bring in a leading global partner in the renewable energy sector, while further strengthening the value of our high-quality asset portfolio,” highlighted João Costeira, Executive Managing Director of Low-Carbon Generation at Repsol.

The transaction is expected to close toward the end of 2026, subject to customary regulatory approvals.

This agreement forms part of Repsol’s renewable strategy, aimed at optimizing the financial structure of the business, accelerating growth with strategic partners, and rotating part of its portfolio. This is the eighth renewable asset rotation carried out by Repsol, totaling 3,850 MW, both in Spain and the United States. Repsol currently has 6 GW of renewable capacity in operation.

The acquisition continues Masdar’s strategy of partnering with other industry leaders to scale renewable energy deployment worldwide, as it targets 100 GW of global capacity by 2030. Once the transaction is completed, Masdar will have an operational capacity of 4.1 GW across the Iberian Peninsula, with around 1 GW under development.

In the context of this, Repsol secured €550 million in syndicated financing for the portfolio in December 2025 from Banco Sabadell, Abanca Corporación Bancaria, CaixaBank, BNP Paribas, UniCredit Bank, and Spain’s Official Credit Institute (Instituto de Crédito Oficial).

EDF power solutions North America and Abu Dhabi Future Energy Company – Masdar, co-owners of the BigBeau Solar+Storage Project, have entered into 15-year power purchase agreements covering the output from the 128 megawatt (MWac) solar plant and its 40 MW/160 MWh battery energy storage system.

Located in Kern County, California, the BigBeau project has been operational since December 2022. It began delivering electricity to Southern California Edison (SCE) under new agreements on Feb. 1, 2026.

Dustin Priemer, Director Asset Management Masdar Americas, said,

BigBeau is one of seven projects that Masdar and EDF power solutions agreed to develop in a partnership, with a combined capacity of 1.1 gigawatts (GW).

EDF power solutions, one of the largest renewable developers in North America, is committed to providing solutions to meet customers’ carbon-reduction goals. With over 35 years of experience and 26 gigawatts of wind, solar, and storage projects developed, EDF power solutions in North America provides integrated energy solutions from grid-scale power to electric vehicle charging.

Active in the United States since 2019, Masdar has made a long-term commitment to the market. The company is focused on delivering clean energy solutions that meet rising demand while supporting energy resilience and independence. To date, Masdar has invested several billion dollars in the U.S., with plans to develop a portfolio of up to 25 GW within the next decade.

• Lord Whitehead, on behalf of the UK Energy Secretary, gives consent to both Dogger Bank South East and West offshore wind farm projects

• The two 1.5GW projects are being developed as a joint venture between RWE and Masdar, and would be co-located over 100km off the northeast coast of England

• Both projects secured Contracts for Difference in the UK Government’s Auction Round 7 and will now progress towards a final investment decision and construction

Global clean power leaders RWE and Abu Dhabi Future Energy Company PJSC – Masdar welcome the decision made by Lord Whitehead on behalf of the UK Energy Secretary’s legal authority to approve the Development Consent Order for the two Dogger Bank South (DBS) offshore wind farms.

The proposed wind farms, DBS West and DBS East, are expected to have a combined installed capacity of 3 gigawatts (GW) and would be capable of producing enough electricity to power the equivalent of approximately three million UK homes annually1.

The wind farms are set to be located over 100km off the northeast coast of England, with the potential to create significant opportunities for businesses and communities in Yorkshire, the Humber, and wider UK.

In January (2026), the projects successfully secured Contracts for Difference (CfD) with the UK Government through the Allocation Round 7 (AR7).

The Development Consent Order application was originally made in June 2024, with over 1,000 documents submitted to the Planning Inspectorate for review, and 10 online examination hearings being held.

RWE and Masdar will now conduct detailed final design work and progress procurement decisions with the aim of taking a final investment decision (FID) in 2027.

The projects are being developed as a Joint Venture between RWE (51%) and Masdar (49%).

Further information about the projects DBS West and DBS East can be found here.

• Collaboration agreement to accelerate deployment of more than 30GW of solar PV capacity and over 8GW of battery storage planned by EWEC, supporting the UAE’s renewable and clean energy objectives and powering local industrial growth

EWEC (Emirates Water and Electricity Company), a leading company in the integrated planning, purchasing, supply, and system despatch services of water and electricity across the UAE, has entered into a strategic Collaboration Framework Agreement (CFA) with Abu Dhabi Future Energy Company PJSC – Masdar, a global clean energy leader. The agreement establishes a roadmap for the accelerated deployment of utility-scale renewable energy projects, to diversify the UAE’s energy mix and strengthen security of supply, and power local industrial growth. Crucially, this framework is designed to maximise In-Country Value and foster Emirati talent and expertise.

The CFA was signed by Ahmed Ali Alshamsi, Chief Executive Officer of EWEC, and Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar. The agreement will streamline Masdar’s participation in the engagement process for EWEC’s renewable energy projects, covering early-stage project development through to financial close.

Building on EWEC and Masdar’s successful history of partnership on world-leading projects such as Al Dhafra Solar PV, Al Ajban Solar PV, Khazna Solar PV, and the gigascale ‘round-the-clock’ solar and battery storage project. The agreement will improve efficiency, while preserving the transparency and independence of EWEC’s competitive procurement processes.

Ahmed Ali Alshamsi, Chief Executive Officer of EWEC, said:

Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said:

This agreement supports the rapid delivery of world-class utility-scale renewable energy infrastructure in line with the Abu Dhabi Department of Energy’s Clean Energy Strategic Target 2035 for Electricity Production in Abu Dhabi and the UAE Net Zero by 2050 Strategic Initiative.

Renewable and clean energy are central to Abu Dhabi’s long-term energy strategy, and through robust planning and strategic partnerships, EWEC is executing a comprehensive roadmap to transform the water and power sector, enabling nearly emissions-free water production by 2030 and 60 per cent of Abu Dhabi’s energy demand to be met by renewable and clean energy sources by 2035.

• Founded in 2006 by His Highness Sheikh Mohamed bin Zayed Al Nahyan, Masdar was a bold bet on renewables when the world still doubted them.

• Since its launch, Masdar has helped transform renewables into the world's most cost-competitive, rapidly deployable power source

• Today, Masdar is one of the world's largest clean energy developers, with 65+ gigawatts of portfolio capacity and a clear path to 100GW by 2030

• Now pioneering the next frontier: round-the-clock gigascale renewable power in Abu Dhabi, a blueprint for the intelligence age, ready to scale globally

Abu Dhabi Future Energy Company PJSC – Masdar is marking 20 years of leadership in renewable energy. Two decades ago, when renewable energy was nascent and unproven at scale, the UAE made a defining choice: to make an investment in the future of power that defied the sceptics. That choice was Masdar.

Founded by His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, on April 23, 2006, through Mubadala Investment Company (Mubadala), Masdar was built with a clear mandate: diversify the UAE's economy and accelerate the global deployment of renewable energy. Two decades on, Masdar is one of the world's largest renewable energy developers and operators, with a portfolio capacity exceeding 65 gigawatts (GW) and an ambitious target of 100GW by 2030.

His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Masdar's founding CEO, said:

Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said:

From a solar plant in Masdar City to the world's largest projects

Masdar's journey began with a single grid-connected solar plant in Masdar City in 2009. It has since delivered some of the most ambitious renewable energy projects ever built, including the 2GW Al Dhafra solar plant, the world's largest single-site solar facility upon its 2023 completion, powering around 200,000 UAE homes.

Global footprint, built on UAE ambition

From a handful of employees in 2006, Masdar now employs over 1,100 people across 12 countries. Its portfolio spans continents and technologies: the world's first floating offshore wind farm (30MW, Hywind Scotland), Southeast Asia's largest floating solar project (145MW Cirata, Indonesia), and Central Asia's largest wind farm (500MW Zarafshan, Uzbekistan).

In 2022, Masdar entered its new ownership structure with Abu Dhabi National Energy Company (TAQA), Mubadala and Abu Dhabi National Oil Company (ADNOC) becoming joint shareholders, committed to accelerating Masdar’s growth.

Recent acquisitions — Saeta Yield in Spain, a 50 percent stake in Terra-Gen in the United States, and TERNA ENERGY in Greece — have further cemented Masdar's position as a truly global clean energy powerhouse.

Redefining renewables for the Intelligence Age

Now, Masdar is redefining the role of renewables. Alongside Emirates Water and Electricity Company (EWEC), it is developing the world's first gigascale integrated renewable energy project in Abu Dhabi: a 5.2GW solar plant paired with a 19 gigawatt-hour (GWh) battery system, delivering 1GW of uninterrupted baseload power. This is not just another project. It is a blueprint for the world, one Masdar is already exploring with global partners.

The next chapter: 100 GW by 2030

Masdar is continuing to look to drive global expansion and advance energy transformation worldwide. This month, Masdar signed a binding agreement with France’s TotalEnergies to establish a US$2.2 billion 50/50 joint venture (JV) that will merge their onshore renewable activities in nine countries across Asia.

To fuel its next phase of growth, Masdar will deploy US$30–35 billion in equity and project finance to reach 100 GW by 2030, adding an average of 10GW of new capacity every year.

• Masdar and EPCG, Montenegro’s national power utility, to establish 50/50 joint venture to deploy clean energy projects across multiple technologies

• Partnership designed to support Montenegro’s domestic energy needs while enabling export of electricity to Western Balkans and Southern Europe

• Collaboration will build on Masdar’s existing presence in Montenegro and complements its expansion across wider region

Abu Dhabi Future Energy Company PJSC – Masdar, a global clean energy leader, and Elektroprivreda Crne Gore (EPCG), Montenegro’s national power utility, have agreed to form a 50/50 joint venture (JV) to develop large-scale renewable energy projects in Montenegro.

In the presence of His Excellency Admir Šahmanović, Minister of Energy and Mining for Montenegro, His Excellency Khamis Rashed Ahmed Lebsaili Alshemeili, Ambassador of the United Arab Emirates to Montenegro, and Mohamed Jameel Al Ramahi, CEO of Masdar, the agreement was signed at the Adria Future Summit by Milutin Đukanović, President of the Board of Directors of EPCG, Zdravko Dragaš, CEO of EPCG and Ahmed Al Awadi, Advisor, Office of the COO, Masdar.

Through the JV, to be headquartered in Nikšić, Masdar and EPCG will deploy and operate clean energy projects across a range of technologies, including solar photovoltaic (PV), wind, hydropower, pumped hydro energy storage, stand-alone battery energy storage systems and hybrid solutions in Montenegro.

The collaboration is intended to support Montenegro’s domestic energy needs while also enabling the export of renewable electricity to the Western Balkans and Southern Europe, including leveraging an existing sub-sea interconnection with Italy.

The JV will combine EPCG's position as Montenegro's leading energy producer and Masdar's global expertise in renewable energy project development to enhance Montenegro’s energy security and accelerate energy transformation in the country and across the broader European energy market.

His Excellency Admir Šahmanović, Minister of Energy & Mining, said:

Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said:

Milutin Đukanović, President of the Board of Directors of Elektroprivreda Crne Gore, said:

Zdravko Dragaš, Chief Executive Officer of EPCG, said:

Masdar and EPCG announced at Abu Dhabi Sustainability Week 2026 in January that they were exploring the JV, following the signing of a UAE-Montenegro energy cooperation agreement in November 2025.

The JV will also build on Masdar’s existing presence in Montenegro through its 2018 investment in the 72-megawatt Krnovo Wind Farm, the country’s largest operating wind project. The partnership also complements Masdar’s broader expansion and investment in Southeast Europe and Central Europe through its platform, TERNA ENERGY, acquired last year.

• First turbine installed at ScottishPower and Masdar’s £4 billion East Anglia THREE offshore windfarm, featuring 115-metre blades – the biggest manufactured and used in the UK

• All 285 blades for the 14MW turbines are being manufactured in the UK at Siemens Gamesa’s factory in Hull

• When complete, the 1.4 GW East Anglia THREE project will produce enough clean power for more than 1.3 million homes

ScottishPower and Masdar’s East Anglia THREE offshore windfarm has set a UK offshore wind record with the installation of its first turbine – the first in the UK to feature 115 metre blades, each one longer than a Premier League football pitch.

All 285 of the record-breaking blades for the project’s 95 turbines are being manufactured in the UK at Siemens Gamesa’s factory in Hull.

Standing around 262 metres tall – higher than the observation deck at the Shard – the 14MW Siemens Gamesa turbines have a rotor diameter of 236 metres.

A single revolution of just one turbine will produce enough electricity to power a UK home for more than four days, charge around 1,700 mobile phones, or brew nearly a thousand cups of tea.

Charlie Jordan, ScottishPower Renewables CEO said:

“East Anglia THREE will be the biggest and most powerful offshore windfarm in our portfolio. That means billions of pounds invested in UK and global supply chains; thousands of jobs supported during construction; more than a hundred long-term roles created in the East of England; and greater energy security, with more clean power coming on to the grid than ever before.

“This achievement is testament to successful collaboration with our strategic investment partner, Masdar, and the dedication and excellence of our own teams and supply chain partners. East Anglia THREE will play a crucial role in the UK’s clean energy future and it’s fantastic to see our vision come to life.”

Located off the Suffolk coast in the UK, East Anglia THREE will be one of the world’s largest offshore windfarms when it comes into operation, delivering enough homegrown, clean electricity to power the equivalent of 1.3 million British homes.

Husain Al Meer, Director of Global Offshore Wind at Masdar said:

The blades used on the East Anglia THREE turbines are seven metres longer than the previous record of 108 metres – also manufactured by Siemens Gamesa.

Darren Davidson, UK Head of Siemens Energy and Siemens Gamesa, said:

The turbine installation was executed by Cadeler’s O-class Wind Osprey jack-up vessel, which will be joined later this month by the next generation P-class Wind Pace on its first deployment in European waters as the installation programme continues.

Mikkel Gleerup, Cadeler CEO said:

“By deploying two of our vessels in parallel, we can maintain a consistent and efficient installation pace throughout the campaign. This also marks Wind Pace’s first project in European waters since her delivery last year. Built to install the next generation of turbines, she brings increased capacity and operational flexibility, enhancing installation efficiency and supporting a more streamlined programme. Together, this strengthens our ability to deliver safely, reliably and at scale.”

• WiSER’s new White Paper links women’s economic participation to competitiveness, resilience and institutional performance

• Framework highlights 10 practical pathways to enhance participation across finance, policy, innovation and human capital

• Insights shaped by global leaders convened at the 2026 WiSER Annual Forum during Abu Dhabi Sustainability Week

WiSER, a global platform founded by Masdar and the Zayed Sustainability Prize to champion women as leaders of sustainable change, today launched Inclusive Pathways for Transformative Growth, a white paper that recommends practical actions to enhance women’s economic participation and drive global growth.

The report highlights how leadership structures, capital flows, governance models and innovation ecosystems shape access to opportunity, authority and resources. It offers ten practical actions across six priority areas — including investing in more female innovators, creating fairer leadership pathways, using more inclusive data, and updating policies to remove barriers to full participation.

The White Paper builds on insights from the 2026 WiSER Annual Forum, convened in January during Abu Dhabi Sustainability Week (ADSW), where ministers, ambassadors, CEOs, investors and policymakers examined how inclusive leadership and institutional design can unlock more resilient growth models.

Under the forum theme, Inclusive Pathways for Transformative Growth, discussions focused on practical levers that strengthen decision-making, accelerate innovation and expand participation in ways that enhance long-term economic performance.

The report outlines six priority areas where leaders can act to strengthen inclusive performance:

• Finance: Expand women’s access to capital and investment governance structures

• Policy and governance: Embed inclusive decision-making frameworks that reform laws and institutions

• Innovation: Support inclusive research funding, commercialization pathways and scaling models

• Human capital: Invest in inclusive education and upskilling, particularly in STEM and AI

• Leadership: Strengthen transparent leadership selection, advancement and accountability systems

• Foresight and crisis response: Increase female representation in risk and foresight governance to reduce blind spots and strengthen resilience

Dr Lamya Fawwaz, Executive Director of Brand and Strategic Initiatives at Masdar and WiSER Program Director, said:

Since its launch in 2015, WiSER has grown into a globally recognized platform shaping the next generation of women sustainability leaders. Over the past decade, it has empowered more than 150 women through its flagship Pioneers program, delivered over 565 hours of structured one-to-one mentorship, and mobilized a global network of 35+ mentors and 85+ strategic partners.

Through its annual forums, summits, and policy dialogues across six continents, WiSER has convened over 4,500 influential voices from government, industry, academia, and civil society, building a powerful pipeline of inclusive leadership. Working with partners worldwide, WiSER channels insights from these collaborations into white papers, podcasts, and dialogues that shape policy, industry practice, and everyday decision-making.

WiSER remains committed to empowering women as sustainability leaders through its pioneering initiatives, including the WiSER Pioneers program and WiSER Cares. The insights and recommendations outlined in the White Paper will help inform future WiSER programming and partnerships, supporting leaders and institutions to move from commitment to measurable progress in embedding inclusive leadership and performance-driven approaches. The complete set of ten actionable recommendations is presented in full within the report.

To download the full White Paper and learn more, visit: https://wiser.ae/

• Binding agreement to merge onshore renewable activities in nine countries across Asia

• Each company will contribute assets of comparable value, totaling 3 GW of operational capacity and 6 GW under advanced development

• Abu Dhabi-headquartered platform positions partners to capture Asia’s growing electricity demand

TotalEnergies, a global integrated multi‑energy company, and Abu Dhabi Future Energy Company PJSC – Masdar, a global clean energy leader, have signed a binding agreement to establish a $2.2bn 50/50 joint venture (JV) that will merge their onshore renewable activities in nine countries across Asia.

As electricity demand accelerates across Asia, this partnership brings together capital and expertise to deliver renewable energy at the scale and speed required. Once the transaction is closed, the JV will act as both companies’ sole vehicle for developing, building, owning and operating onshore solar, wind and battery storage projects in Azerbaijan, Indonesia, Japan, Kazakhstan, Malaysia, the Philippines, Singapore, South Korea and Uzbekistan.

The JV will have a portfolio capacity of 3 GW of operational assets and 6 GW of assets in advanced development that are expected to be operational by 2030. Each partner will contribute assets of comparable value.

“The UAE has established itself as a global energy leader by delivering at scale, investing with conviction, and building partnerships that endure. Masdar epitomizes that approach. We are proud to have pioneered renewable energy deployment in Central Asia and the Caucuses, and we have an expanding portfolio in some of the most attractive growth markets in Asia-Pacific. Asia will be the main driver of global electricity demand growth this decade, and this collaboration with TotalEnergies will accelerate our progress across the continent, unlocking new opportunities to deliver the competitive, reliable energy solutions that our partners and customers need,” said His Excellency Dr, Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Chairman of Masdar.

“We are delighted with the signing of this agreement with Masdar, which brings together two major renewable players to build a renewable champion in Asia. It will allow us to combine the strengths of our two companies to secure significant positions in these markets and create more value than if we were acting alone. This agreement is fully in line with the renewable energy strategy of our Integrated Power business. We are also pleased to further deepen, in this area, the long-standing relationship between the United Arab Emirates and TotalEnergies,” said Patrick Pouyanné, Chairman and CEO of TotalEnergies.

“This joint venture reinforces Abu Dhabi’s status as a global center for energy leadership, combining the expertise of Masdar and TotalEnergies to drive renewable energy deployment across Asia. For Masdar, this JV strengthens and diversifies our portfolio, unlocking new opportunities in attractive, high-growth markets, while bringing in a like-minded partner to accelerate growth and deliver additional value in our existing markets.” said Mohamed Jameel Al Ramahi, CEO of Masdar.

The JV, which will be headquartered in Abu Dhabi Global Market (ADGM), will be staffed by around 200 employees from both TotalEnergies and Masdar. The management team for the JV will be announced at a future date.

The closing of the agreement is subject to regulatory approvals and conditions.

• Exus to acquire 60 percent stake in portfolio of nine wind farms located in northern and central Portugal

• Masdar is repowering the portfolio, which will increase total operational capacity to 164MW, with plans to codevelop 110MW of additional solar capacity

• Agreement will support both companies’ expansion plans, while accelerating Portugal’s energy transformation

Exus Renewables, a leading global energy solutions provider, has signed an agreement with Abu Dhabi Future Energy Company PJC – Masdar, a global clean energy leader, to acquire a 60 percent stake in a portfolio of nine wind farms in Portugal. Masdar will retain a 40 percent 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.”

Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said:

The repowering initiative includes plans for hybridization, 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 initiative is fully aligned with Portugal’s energy transition roadmap which targets 10.4 GW of onshore wind capacity by 2030 and achieving net zero by 2045. Through repowering and hybrid solar integration, the project contributes to capacity growth and system optimisation.

With Exus accelerating its expansion across Europe, the company is positioning itself as an integrated energy platform operating across the entire value chain from early-stage development and project optimisation to asset management and hybridization – with the ambition of delivering comprehensive, end-to-end energy solutions.

Masdar is targeting expansion across the Iberian Peninsula and Europe, with the company aiming for global portfolio capacity of 100GW by 2030. Today, Masdar is one of the world’s largest developers and operators of renewables worldwide, with platforms for growth in the world’s most commercially attractive, fast-growing energy markets.