Exus Renewables has agreed to acquire a 60% stake in a portfolio of nine wind farms in Portugal from Masdar, which will retain a 40% share.
The company said the portfolio in Guarda and Castelo Branco is being repowered to raise operational capacity from 144MW to 164MW with completion due in 2027.
It added that the repowered sites will supply clean power for more than 200,000 households and avoid about 41.7 kilotons of CO₂ a year.
Luis Adão da Fonseca, chief executive of Exus Renewables, said: “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.”
“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, stated: “Through repowering and hybridization, we are enhancing the performance and long-term value of these sites, underscoring our innovative approach to asset management.”
He added that Masdar and Exus plan to codevelop 110MW of solar as part of the hybridisation initiative.
The partners said the project aligns with Portugal’s energy transition roadmap targeting 10.4GW of onshore wind by 2030 and net zero by 2045.