Qualitas Energy has sold its 494MWp Mula solar PV plant to the Spanish subsidiary of Chinese giant China Three Gorges.
The transaction executed in partnership with Northleaf Capital Partners, a leading global private markets investment firm, in a joint sale of 100% equity interest, Qualitas said.
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 Qualitas signed a 10-year power purchase agreement (PPA) for the solar plant.
Manuel Espinosa, Partner at Qualitas Energy, said: 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”.
The close of the transaction is subject to customary processes, and is expected to be completed in the first quater of 2025.
Qualitas Energy was advised on the transaction by Greenhill (financial), Watson Farley & Williams (legal), E&Y (accounting & tax), and DNV (technical).