Three Gorges buys the largest solar photovoltaic (PV) plant in Spain

Qualitas Energy has announced the sale of its Mula solar PV plant, located in Murcia, to China Three Gorges Spain, a subsidiary of CTG Europe and part of China Three Gorges Corporation. With an installed capacity of 494 MWp, the plant is positioned as one of the largest photovoltaic projects in Europe.

This transaction was carried out in collaboration with Northleaf Capital Partners, a global investment firm and co-owner of the solar plant, resulting in the sale of 100% of the shareholding. Closing of the transaction is expected to be completed during the first quarter of 2025, subject to customary procedures.

Manuel Espinosa, Partner at Qualitas Energy, said: “We are pleased to transfer this asset to such an experienced partner as China Three Gorges Spain, which will allow us to continue with our investment strategy in renewable energy, both in Spain and internationally, in our mission to contribute to a decarbonized economy. This divestment reinforces our commitment to creating solid and sustainable value for our investors.”

In 2023, Qualitas Energy completed a refinancing operation for the plant, with the participation of various financial institutions specializing in the structured financing sector in renewable energies. In addition, they signed a PPA (Power Purchase Agreement) for the sale of the energy generated by Mula over the next 10 years to an international investment-grade energy company.

Qualitas Energy is a leading fund manager in renewable energy, energy transition and sustainable infrastructure investment.