China Three Gorges to Acquire NCP Mula Solar
Deal News | Jan 16, 2025 | Iberian Lawyer
In a significant strategic expansion within Europe, China Three Gorges, a leading player in clean energy from China, is set to acquire NCP Mula Solar plant located in Murcia, southeastern Spain. This acquisition marks an important move for the company as it strengthens its renewable energy footprint in Spain, adding to its operational capacity of close to 1.9 GW. The NCP Mula Solar plant, with an installed capacity of 493.7 MWp, benefits from a Power Purchase Agreement that boosts its revenue certainty. Deloitte Legal and Deloitte's financial and tax teams played a crucial advisory role in the transaction, emphasizing their comprehensive M&A capabilities. This move follows CTG's green loan signing through its overseas platform in September, underlining its ongoing commitment to expanding renewable energy operations across Europe.
Sectors
- Renewable Energy
- Mergers and Acquisitions
- Legal and Financial Advisory
Geography
- Spain – The acquisition involves the NCP Mula Solar plant located in Murcia, Spain, a region with high solar potential.
- China – China Three Gorges, a key player in this transaction, is based in China.
Industry
- Renewable Energy – The acquisition involves a solar energy plant, focusing on renewable energy production in Europe.
- Mergers and Acquisitions – The article discusses the acquisition of NCP Mula Solar by China Three Gorges, highlighting the M&A activity.
- Legal and Financial Advisory – Deloitte provided legal, financial, and tax advisory services for the transaction, marking their involvement in professional advisory services.
Financials
- 493.7 MWp – The installed capacity of NCP Mula Solar.
- 800 GWh – The estimated annual production of the NCP Mula Solar plant.
- 1.9 GW – China Three Gorges' current operational renewable capacity in Spain.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| China Three Gorges | Acquirer | Company | A leading Chinese clean energy provider acquiring the NCP Mula Solar plant. |
| NCP Mula Solar | Target company | Company | A solar plant with a capacity of 493.7 MWp located in Murcia, Spain. |
| Northleaf | Vendor | Company | Holds 81% of NCP Mula Solar. |
| Qualitas Energy | Vendor | Company | Holds 19% of NCP Mula Solar. |
| Deloitte | Financial and Legal Advisor | Company | Advised China Three Gorges on the acquisition, providing integrated financial and tax capabilities. |
| Sergio Ramirez Soto | Senior Associate | Person | Part of Deloitte's tax team involved in the transaction. |
| Carlota Rosanas Lopez | Manager | Person | Part of Deloitte's tax team involved in the transaction. |
| David Dez Garca | Partner | Person | Part of Deloitte's transaction team for the acquisition. |
| Manuel Bolaos Garca | Manager | Person | Part of Deloitte's transaction team for the acquisition. |