Masdar gets EU nod for bet on US renewables developer Terra-Gen

European Commission. Author: Sébastien Bertrand. License: Creative Commons, Attribution 2.0 Generic.

The European Commission (EC) on Monday cleared without conditions Abu Dhabi-based renewables developer Masdar’s agreement to take a 50% stake in peer Terra-Gen which operates about 2.4 GW of wind and solar assets throughout the US.

Masdar agreed to acquire the interest from exiting shareholder Energy Capital Partners (ECP) in March. Financial details were not provided.

The EU merger watchdog said in a press statement that the transaction is not expected to harm competition in the relevant market given its limited impact on the European Economic Area.

In addition to wind and solar, Terra-Gen also operates 5.1 GWh of energy storage facilities. The company, which is mostly active in California and Texas, has more than 30 renewable power sites.

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