Qualitas Energy Sells 494 MWp Mula Solar Plant to China Three Gorges Spain

Qualitas Energy, a global investment and management platform specializing in renewable energy and sustainable infrastructure, has announced the sale of the Mula solar photovoltaic plant to China Three Gorges Spain, a subsidiary of CTG Europe under the China Three Gorges Corporation. The corporation is renowned as the world’s largest hydropower developer and a leader in clean energy.

The transaction, conducted in partnership with Northleaf Capital Partners—co-owner of the Mula solar park—marks the joint sale of 100% of the shareholding. Located in the Region of Murcia, Spain, Mula boasts an installed capacity of 494 MWp, positioning it as one of Europe’s largest photovoltaic projects.

In 2023, Mula underwent significant developments, including a refinancing operation involving multiple structured financing specialists and the signing of a 10-year power purchase agreement (PPA) with an investment-grade international energy company for the sale of its energy output.

Manuel Espinosa, Partner at Qualitas Energy, expressed confidence in the deal, stating, “We are pleased to transfer this asset to China Three Gorges Spain, a partner with extensive expertise, enabling us to advance our investment strategy in renewable energy both in Spain and globally. This divestment underscores our commitment to creating sustainable value for our investors and contributing to a decarbonized economy.”

The transaction is subject to customary closing processes and is expected to conclude in the first quarter of 2025.

Advisors to Qualitas Energy for the sale include Greenhill (financial), Watson Farley & Williams (legal), E&Y (accounting and tax), and DNV (technical).