Abu Dhabi Future Energy Company PJSC - Masdar ("Masdar"), the UAE's clean energy powerhouse, today announced the proposed acquisition of Saeta Yield ("Saeta") from Brookfield Renewable (NYSE: BEP), (BEPC;

Abu Dhabi state-backed clean energy company Masdar is to buy Spanish renewables group Saeta Yield from Brookfield at a $1.4bn valuation, its second investment in the country’s green energy sector this year.

Masdar agreed to buy Spanish renewable energy firm Saeta Yield SA from Brookfield Asset Management in a deal with an enterprise value of 4.8 billion dirhams ($1.3 billion).

Recharge is the world’s leading business intelligence source for the renewable energy industries. We provide award-winning international coverage of breaking news, in-depth features and analysis across the wind and solar sectors. Learn about key energy issues as they happen and get industry insight from our experts.

Masdar agreed to buy Spanish renewables firm Saeta Yield SA from Brookfield Asset Management, as the Abu Dhabi-based company pursues ambitious clean-energy goals.Most Read from BloombergUnlocking the Hidden Power of Zoning,

United Arab Emirates' renewable energy company Masdar said on Tuesday it has reached an agreement to buy green energy firm Saeta Yield from Canada's Brookfield's in a deal valuing the company at $1.4 billion.

Brookfield Renewable and its institutional partners have signed an agreement to sell its Saeta Yield renewable energy business in Europe to the UAE's Masdar in a deal valued at US$1.4 billion.