China Three Gorges Acquires NCP Mula Solar with BBVA and Deloitte's Guidance
Deal News | Jan 16, 2025 | Finance Community ES 2 - Corporate M&A
China Three Gorges (CTG), a leading clean energy provider from China, has successfully acquired NCP Mula Solar in Spain, with advisory services from BBVA and Deloitte. The plant, located in Murcia, has an installed capacity of 493.7 MWp and is supported by a long-term Power Purchase Agreement (PPA) with an investment-grade counterparty. This acquisition grants CTG significant market presence in Spain, aligning with their strategic growth in Europe's renewable sector. NCP Mula Solar, positioned as a market leader in auxiliary services revenue, contributes significantly to the regional photovoltaic output. The acquisition follows a recent green loan collaboration between CTG and China Three Gorges International Ltd. The team from BBVA, led by Alfredo Mellon, and Deloitte's financial and fiscal expertise, facilitated this strategic transaction.
Sectors
- Renewable Energy
- Financial Advisory
Geography
- Spain – The NCP Mula Solar facility is located in Murcia, Spain, making the country's geography relevant to the article.
- China – China Three Gorges, the acquiring company, is a major energy entity based in China, highlighting its geographical significance.
Industry
- Renewable Energy – The acquisition involves a solar power facility, NCP Mula Solar, indicating the transaction belongs to the renewable energy sector.
- Financial Advisory – BBVA and Deloitte provided financial and M&A advisory services for the acquisition, representing the financial advisory sector.
Financials
- 493.7 MWp – The installed capacity of the NCP Mula Solar facility.
- 800 GWh – The estimated annual production of NCP Mula Solar.
- 1.9 GW – CTG's operational renewable capacity in Spain post-acquisition.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| China Three Gorges (CTG) | Acquirer | Company | Major Chinese clean energy provider acquiring NCP Mula Solar. |
| NCP Mula Solar | Target | Company | Solar power facility located in Murcia, Spain, acquired by CTG. |
| Northleaf | Seller (81%) | Company | Previous owner of a majority stake in NCP Mula Solar. |
| Qualitas Energy | Seller (19%) | Company | Previous owner of a minority stake in NCP Mula Solar. |
| BBVA | M&A Advisor | Company | Provided advisory on M&A for the acquisition of NCP Mula Solar by CTG. |
| Deloitte | Financial and Fiscal Advisor | Company | Advised on financial and fiscal aspects, including due diligence for the transaction. |