Intesa Sanpaolo and Abu Dhabi Future Energy Company (Masdar) have signed a Memorandum of Understanding to enhance their cooperation in mergers and acquisitions, the bank announced on February 24.

The agreement was signed in the presence of UAE President H.H. Sheikh Mohamed bin Zayed Al Nahyan and Italian Prime Minister Giorgia Meloni by Mauro Micillo, Chief of Intesa Sanpaolo's IMI Corporate & Investment Banking Division, and Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar.

Masdar has established itself as a key enabler of the UAE's vision to be a global leader in renewable energy, with operations in more than 40 countries. 

The company has a mandate to increase its renewable energy portfolio capacity to 100GW by 2030 and to become a leading green hydrogen producer within the same timeframe.

Intesa Sanpaolo has previously acted as an acquisition financier and advisor to Masdar on numerous transactions.

Most recently, the bank supported Masdar's acquisition of Enel's Spanish assets through Endesa in December 2024.

"The signing of this agreement renews our partnership with Masdar, an entity of absolute excellence with which we have already collaborated on several operations in recent years, including the investment in the Baltic Eagle offshore wind farm," said Mauro Micillo.

"This MoU confirms our role as a strategic partner in international M&A operations while reaffirming our constant focus on innovative and sustainable projects."

"The United Arab Emirates represents a market of enormous potential for the IMI CIB Division, and we therefore intend to further strengthen our presence and support for the numerous entities in the region," he added.

The IMI Corporate & Investment Banking Division of Intesa Sanpaolo serves as a global partner supporting corporates, financial institutions and public administration both nationally and internationally.