Exus Renewables to acquire stake in Masdar’s Portuguese wind portfolio

Exus announces acquisition of 60% stake in nine wind farms in northern and central Portugal

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: “Through repowering and hybridization, we are enhancing the performance and long-term value of these sites, underscoring our innovative approach to asset management. Disciplined portfolio management and partnership are fundamental aspects of our growth strategy, and we are proud to be working with Exus as we continue to deliver clean, affordable, and reliable power to communities across Portugal.”

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.