MADRID, Sept 27 (Reuters) - United Arab Emirates'

renewable energy company Masdar will seek to further grow its

presence in the Iberian market after clinching two deals in the

region in recent months, an executive in the company told

Reuters.

Masdar clinched this week its second large renewables deal

in Spain in two months, buying Saeta Yield from Canada's

Brookfield in a $1.4 billion deal.

In July, it agreed to take a minority stake in a 2-gigawatt

solar portfolio controlled by Endesa - a unit of Italy's Enel

.

"The fact that we've done two deals in a matter of a couple

of months tells you that we are very keen on the Spanish

market," M&A chief Faisal Tahir Bhatti said.

"We're well on our way to building up our own champion."

Saeta's 745 megawatts of mostly wind assets, 1.6 GW of

projects under development in Spain and Portugal, and 90-strong

staff offer a strong platform to grow in Iberia and beyond, he

said.

With a 100-GW renewable capacity target by 2030, Masdar has

so far invested in roughly 20 GW of renewable projects valued

$30 billion around the world, excluding the recent deals.

Masdar and other deep-pocketed investors from the Gulf and

other regions have intensified dealmaking in a sector hit by

high interest rates and rising debt costs, with energy giants

like Iberdrola and Enel happy to sell minority stakes

in wind and solar parks to maximise returns and curb debt.

Masdar - which is controlled by UAE's utility TAQA, oil

company ADNOC and the sovereign wealth fund Mubadala Investment

Company - will now focus on developing its Spanish platforms.

Masdar is in talks with Endesa to develop up to 5 GW of

capacity tied to the July deal, he said, while the Saeta

pipeline should be connected to the grid by 2030.

Masdar will look at potential new opportunities with current

partners, such as Endesa and Iberdrola, but is also open to new

partnerships, under the right conditions and with a "very

selective" approach.