Northleaf Sells 494 MW Spanish PV Plant to China Three Gorges
Deal News | Mar 10, 2025 | Watson Farley & Williams
Northleaf Capital Partners and Qualitas Energy have sold the 494 MW Mula Spanish photovoltaic (PV) plant to China Three Gorges Spain, a move that signifies one of the largest operational solar PV transactions in Europe. The plant benefits from a robust financial profile due to a long-term power purchase agreement, enhancing its investment appeal. Northleaf, a premier global private markets investment firm with over US$28 billion in capital commitments, has a distinguished track record as a mid-market investor. Qualitas Energy, recognized for its focus on renewable energy and sustainable infrastructure investments, collaborated on the sale. The legal advisory for the transaction was provided by Watson Farley & Williams (WFW) with a team led by Madrid office head Partner Mara Pilar García Guijarro. China Three Gorges Spain, part of the global giant China Three Gorges Corporation, marks another milestone in expanding its clean energy portfolio in Europe.
Sectors
- Renewable Energy
- Legal Advisory
Geography
- Spain – The photovoltaic plant is located in Spain, marking the country's role in renewable energy investments.
- China – China Three Gorges Spain, part of a major Chinese energy corporation, is involved in the acquisition.
Industry
- Renewable Energy – The article discusses the sale of a large photovoltaic plant, emphasizing the focus on clean and renewable energy.
- Legal Advisory – Watson Farley & Williams provides legal advice in the transaction, highlighting the role of legal firms in facilitating M&A deals.
Financials
- 494 MW – Capacity of the Mula Spanish PV plant sold.
- US$28bn+ – Capital commitments managed by Northleaf Capital Partners.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Northleaf Capital Partners | Selling Company | Company | A global private markets investment firm with significant capital commitments. |
| Qualitas Energy | Selling Company | Company | Investment and management platform focused on renewable energy and sustainable infrastructure. |
| China Three Gorges Spain | Bidding Company | Company | A subsidiary of China Three Gorges Corporation, focusing on renewable energy projects in Spain. |
| Watson Farley & Williams | Legal Advisor | Company | Provided legal advisory for the sale of the PV plant. |
| Mula PV Plant | Target Company | Company | One of the largest operational solar PV plants in Europe. |