Skip to content Skip to Search
Skip navigation

Masdar to buy 50% stake in US green energy producer

Construction of the Dogger Bank South offshore wind farm project in the UK is expected to start by the end of 2025 Masdar
The US market plays an important role in Masdar's plan as it builds a global renewable energy portfolio of 100 GW capacity by 2030

UAE’s clean energy company Masdar has signed a deal to acquire a 50 percent stake in Terra-Gen Power Holdings II, one of the largest independent renewable energy power producers in the US.

Masdar will buy the stake from Energy Capital Partners, a US investment company. No financial details on the deal were shared.

Igneo Infrastructure Partners, an Australian infrastructure investment manager, will retain its 50 percent stake in the company, which was acquired in December 2020.

Established in 2007, Terra-Gen operates 2.4 gigawatts (GW) of wind and solar and 5.1 GWh of energy storage facilities across 32 renewable power sites throughout the US, mainly in California and Texas.  

Masdar moved into the US energy market in 2019 with its renewable portfolio now generating more than 1.4 GW.  The US market plays an important role in the UAE company’s plan as it builds a global renewable energy portfolio of 100 GW capacity by 2030.

“Our investment in Terra-Gen’s impressive energy portfolio expands our existing US footprint and reinforces our long-term commitment across our US portfolio,” said Masdar CEO Mohamed Jameel Al Ramahi.

The transaction is expected to close by the end of 2024, subject to regulatory approvals.  

Earlier this month Masdar began operations on a hurricane-resistant solar power project in Antigua and Barbuda.

Established in 2006, Masdar is active in more than 40 countries and has over 20 GW of capacity including operational, under construction or advanced development projects in its worldwide portfolio.

Latest articles

Saudi commercial property. Occupancy rates in Riyadh grew 5 percentage points but fell in Jeddah and Dammam

Interest in Saudi commercial space may be peaking

Weakening demand in Saudi Arabia’s commercial sector suggests the market could be reaching a plateau, a new survey indicates.  The Global Commercial Property Monitor report by the UK’s Royal Institution of Chartered Surveyors (Rics) found that demand for space rose by 20 percent in the second quarter of 2024, compared with a 53 percent rise […]

Aircraft, Airliner, Airplane

Tunisair growth slows as costs rise

Tunisair’s revenue increased by only 3 percent year on year to TND695 million ($224 million) in the first half of 2024, as fuel costs rose and its market share shrank. Passenger numbers went up by 2 percent to 1.17 million, compared to 1.15 million a year ago, the state-run Tunis Afrique Presse reported. Average revenue […]

A cattle drive in the Pantanal region. Meat is a major component of Brazil's trade with Saudi Arabia

Brazil’s JBS to open Saudi food factory as trade ties deepen

Brazilian multinational JBS is to open a food factory in Saudi Arabia with an investment of SAR500 million ($133 million), in a further sign of the strengthening ties between the two countries. JBS, one of the largest meat and poultry producers in the world, will open the facility in Jeddah under its subsidiary Seara by […]