Northleaf Capital Partners, a global private markets investment firm, has announced the divestment of its majority interest in NCP Mula Solar (Spain), S.L., a 494 MWp solar photovoltaic plant in Murcia, Spain.
The sale, conducted jointly with minority partner Qualitas Energy, will transfer ownership to China Three Gorges (Spain), S.L.U., a subsidiary of China’s leading clean energy group.
Mula, one of Europe’s largest operational solar plants, boasts a strong financial profile with a long-term power purchase agreement and financing from top-tier banks.
The facility benefits from high solar irradiation levels and robust transmission networks in Spain.
Northleaf acquired a controlling interest in Mula in 2018, overseeing its construction and optimisation before initiating a structured sale process in late 2023.
Roderick Gadsby, Managing Director & Head of European Infrastructure at Northleaf, stated: “Northleaf’s successful sale of Mula underscores our ability to consistently deliver value by focusing on mid-market infrastructure assets with stable cashflow, strong yield and inflation linkage.”
The transaction, expected to close in early 2025, will generate significant cash proceeds for Northleaf’s investors.
Société Générale, Watson Farley & Williams, EY, and DNV provided advisory services for the deal.
This sale marks a significant development in the European renewable energy sector, highlighting the growing interest of international investors in large-scale solar projects.
