Abu Dhabi – Mubasher: Abu Dhabi Future Energy Company (Masdar) has acquired a 50% shareholding in Terra-Gen Power Holdings II, LLC  from Energy Capital Partners (ECP).

ECP, one of the largest private investors in power and renewable assets in the US, retains its existing 50% stake in Terra-Gen, according to a press release.

The deal, which was announced in March, anchors Masdar’s position in the US to reinforce developing and operating clean energy projects in the country.

Before the Terra-Gen acquisition, the UAE group’s portfolio in the US generating capacity of more than 1.40 gigawatts(GW).

The US market and Terra-Gen’s scalable platform will back Masdar’s plan to build 100GW of capacity in its global renewable energy portfolio by 2030.

Terra-Gen is currently developing more than 12GW of wind, solar, and battery storage projects across the US in California, Texas, and New York.

In September, Abu Dhabi National Energy Company (TAQA), which holds a 43% equity ownership in Masdar, unveiled plans to acquire Saeta Yield from Brookfield Renewable for $1.40 billion.