Spanish renewables investor Qualitas Energy on Tuesday announced the sale of a 494-MWp solar park in the Spanish region of Murcia to Chinese renewable energy company China Three Gorges, thus confirming an earlier report.
The divestment of the Mula photovoltaic (PV) farm was conducted alongside Qualitas Energy’s investment partner Northleaf Capital Partners, which was the project’s majority owner. With the move, the Canadian private markets investment firm and Qualitas have fully exited the asset.
Financial details about the transaction were kept under wraps. Its closing is expected to occur in the first quarter of 2025.
Touted as one of the largest solar farms in Europe, Mula has been generating electricity since 2019. The complex is operated under a 10-year power purchase agreement (PPA) with an unnamed “global energy leader” that was signed in 2023.
“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,” Manuel Espinosa, partner at Qualitas Energy.
Cobra Concesiones is the original developer of the Mula project. Northleaf Capital acquired the scheme in August 2018, while Qualitas Energy joined as a co-owner at a later stage.
RenewablesNow
