In 2018, Brookfield acquired Saeta Yield through TerraForm Power. At the time of acquisition, Saeta was a publicly listed Spanish yieldco with a portfolio of contracted wind and solar assets primarily in Spain and Portugal.

The privatization of Saeta was an opportunity to acquire a scale portfolio of contracted onshore wind and solar assets in an attractive European market benefiting from strong wind and solar resources. With high-quality, recently constructed assets, Saeta offered a platform for further growth in Iberia.

Under Brookfield’s ownership, Saeta has expanded its operating portfolio through accretive bolt-on opportunities across Iberia. Brookfield has leveraged its global renewable expertise to enhance operations and maintenance processes and share global health and safety best practices.

Saeta is well positioned to capture further growth in the Iberian market and benefit from the recently reformed Spanish renewable regime along with strong government support for renewable investment.