Exus Renewables has entered into an agreement with Abu Dhabi Future Energy Company PJC — Masdar — to acquire a 60% stake in a portfolio comprising nine wind farms located in Portugal. Masdar, a leader in global clean energy, will maintain a 40% stake in these assets.
The wind farms, situated in Guarda and Castelo Branco, are part of one of Portugal’s pioneering large-scale repowering projects. This initiative is set to boost the overall capacity from 144 MW to 164 MW. The projects have reached the final development phase, with full completion anticipated by 2027. Once operational, the upgraded sites aim to deliver sustainable electricity to over 200,000 households, while reducing CO₂ emissions by approximately 41.7 kilotons annually.
Luis Adão da Fonseca, CEO of Exus Renewables, commented on the development, stating, “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.” He further emphasised that the deal bolsters Exus’ operational footprint across Europe and highlights their innovative strategy to enhance the performance and value of renewable assets.
Masdar’s CEO, Mohamed Jameel Al Ramahi, remarked, “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 also includes plans to integrate 110 MW of solar power, co-developed by Masdar and Exus, thereby further augmenting the portfolio’s capacity and bolstering its contribution to Portugal’s national clean energy objectives.
This venture aligns seamlessly with Portugal’s energy transition roadmap, which targets 10.4 GW of onshore wind capacity by 2030 and achieving net zero by 2045. By integrating repowering and hybrid solar solutions, the project supports capacity expansion and system optimisation.
