Mula: Spanish Solar Giant Mula Sold to China Three Gorges
Deal News | Mar 10, 2025 | Iberian Lawyer
The article covers the sale of the 494 MW Mula solar PV plant in Spain, one of Europe's largest operational solar facilities. The seller, Northleaf Capital Partners, a global private markets investment firm, and Qualitas Energy, an investment and management platform focused on renewable energy and sustainable infrastructure, have finalized the transaction with China Three Gorges Spain. The transaction benefits from a long-term power purchase agreement, ensuring a stable financial profile for the solar plant. Watson Farley & Williams (WFW), a prominent law firm, provided advisory services to Northleaf and Qualitas Energy. The Madrid-based team, led by partner Mara Pilar García Guijarro, played a significant role in facilitating the sale.
Sectors
- Renewable Energy
- Private Equity
- Legal Advisory
Geography
- Spain – The 494 MW Mula solar PV plant is located in Spain, making it a critical geography for the transaction.
- China – China Three Gorges Spain, a subsidiary of a major Chinese corporation, is the buyer in the transaction, highlighting Chinese investment interest in European renewable assets.
Industry
- Renewable Energy – The transaction involves the sale of a large-scale solar PV plant, a crucial component of the renewable energy sector focused on sustainable power generation.
- Private Equity – Northleaf Capital Partners, a private markets investment firm, is involved in the sale, indicating significant private equity interest and activity in renewable energy investments.
- Legal Advisory – Watson Farley & Williams provided legal advisory services for the sale, indicating key participation of legal firms in M&A transactions.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Northleaf Capital Partners | Selling Company | Company | A global private markets investment firm with extensive capital commitments, specializing in mid-market investments. |
| Qualitas Energy | Selling Company | Company | An investment and management platform focused on renewable energy, energy transition, and sustainable infrastructure. |
| China Three Gorges Spain | Bidding Company | Company | A subsidiary of China Three Gorges Corporation, the world's largest hydroelectric power developer and China’s leading clean energy group. |
| Watson Farley & Williams (WFW) | Legal Advisor | Company | An international law firm providing legal services, advising Northleaf and Qualitas Energy on the sale. |
| Mara Pilar García Guijarro | Legal Advisor | Person | Partner and Madrid office head of WFW, leading the legal advisory team for the sale. |