Qualitas Energy, in collaboration with Northleaf Capital Partners, has sold the 494MWp Mula solar photovoltaic (PV) plant to the Spanish subsidiary of Chinese energy giant China Three Gorges. The joint sale represents a 100% equity transfer of the facility, one of Europe’s largest photovoltaic generation projects.
Located in Murcia, Spain, the Mula solar PV plant boasts an installed capacity of 494MWp and plays a key role in advancing renewable energy in the region. In 2023, Qualitas signed a 10-year power purchase agreement (PPA) for the plant, ensuring long-term energy offtake stability.
“This successful divestment will enable us to continue our investments in renewable energy sources in Spain and internationally, reinforcing our commitment to driving the change towards a decarbonized economy,” said Manuel Espinosa, Partner at Qualitas Energy. He added that the transaction underscores the firm’s dedication to delivering sustainable value for its investors.
Advisors to Qualitas on the deal included Greenhill for financial matters, Watson Farley & Williams for legal counsel, E&Y for accounting and tax, and DNV for technical expertise.
The transaction is subject to customary regulatory approvals and is expected to conclude in the first quarter of 2025.
