Source: qualitasenergy.com
Qualitas Energy, a global investment and management platform focused on renewable energy, energy transition, and sustainable infrastructure investment, announced today the sale of the Mula photovoltaic solar plant ("Mula"), to China Three Gorges Spain, a subsidiary of CTG Europe and part of China Three Gorges Corporation, the world's largest developer and operator of hydroelectric power and China's leading clean energy group.
This successful exit was executed in partnership with Northleaf Capital Partners, a leading global private markets investment firm, in a joint sale of 100% equity interest.
Mula, located in the Region of Murcia, Spain, has an installed capacity of 494 MWp, making it one of the largest photovoltaic generation projects in Europe. In 2023, a refinancing operation was completed with the participation of several financial institutions experienced in structured finance for renewable energy projects. Also in 2023, a Power Purchase Agreement (PPA) was signed for the sale of Mula's generated energy to a global energy leader for the next 10 years.
Manuel Espinosa, Partner at Qualitas Energy, stated: "We are pleased to hand over this asset to such an experienced partner as China Three Gorges Spain. 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. It also highlights our dedication to delivering strong, sustainable value for our investors".
Closing of the transaction remains subject to customary processes and is anticipated to be completed within the first quarter of 2025.
Qualitas Energy was advised on the transaction by Greenhill (financial), Watson Farley & Williams (legal), E&Y (accounting & tax), and DNV (technical).
