Exus Renewables has agreed to acquire a 60% stake in a portfolio of nine wind farms in Portugal from Masdar, which will retain the remaining 40%.
The portfolio, located in the districts of Guarda and Castelo Branco, is undergoing a repowering programme that will increase operational capacity from 144 megawatts (MW) to 164MW, with completion expected in 2027.
The companies said the upgraded sites will generate enough electricity to supply more than 200,000 households and avoid approximately 41.7 kilotons of carbon dioxide emissions annually.
Luis Adão da Fonseca, chief executive of Exus Renewables, said the transaction supports the company’s focus on optimising existing assets.
“Repowering unlocks significant new renewable capacity from existing sites,” he said. “Together with Masdar, we are scaling this approach in Portugal as part of Exus’ optimisation-led growth strategy.
“This deal significantly strengthens Exus’ operational presence across Europe and underscores our innovative approach to maximising the performance and value of renewable assets.”
Mohamed Jameel Al Ramahi, chief executive officer of Masdar, said the partnership reflects the company’s strategy of enhancing value through asset optimisation.
“Through repowering and hybridization, we are enhancing the performance and long-term value of these sites, underscoring our innovative approach to asset management,” he said.
He added that the two companies plan to co-develop 110MW of solar capacity as part of a hybridisation initiative at the wind sites.
The partners said the project is aligned with Portugal’s energy transition roadmap, which targets 10.4GW of onshore wind capacity by 2030 and net-zero emissions by 2045.
