Qualitas Energy signs a PPA for Mula solar plant, one of the largest in Europe
09/02/2023 – Madrid
- The solar photovoltaic facility has been operational since 2019 and has an installed capacity of 494 MWp, making it one of the largest in Europe
- The energy generated will be sold over the next 10 years to an IG global energy leader
Qualitas Energy, a global investment and management platform focused on renewable energy, energy transition, and sustainable infrastructure investment, has signed a long-term power purchase agreement (PPA) for the solar photovoltaic plant in Mula (Region of Murcia, Spain), in which it is an investor alongside funds managed by lead partner Northleaf Capital Partners. The plant has an installed capacity of 494 MWp, making it one of the largest in Europe.
Through this contract, the energy generated by Mula will be sold to an IG global energy leader for the next 10 years, hence this PPA is also one of the largest deals backed by a single asset in Europe.
With the same aim, in October 2022 Qualitas Energy closed another PPA for the Polish PV plant in Milkowice, with a capacity of 113 MWp, one of the three largest in the country. These milestones position Qualitas Energy as one of the largest European players in the long-term PPA market.
This type of contract also reinforces the company’s strategy of managing and mitigating risks in its asset portfolio, from both an operational and financial perspective; a strategy that Qualitas Energy has been implementing since its origins in 2006.
Qualitas Energy is currently exploring new PPAs opportunities in the markets where it is present, Germany, Italy, the United Kingdom, and Poland. These countries are the main investment focuses of the fifth flagship fund recently launched, QE V. This new Qualitas Energy vehicle held a first close at more than €1.1 billion in November 2022 and has a target size of €1.6 billion.
Carlos Gutiérrez, Portfolio Manager of Qualitas Energy, states: “This contract is relevant not only due to the size of Mula solar PV plant, but also due to the current situation of the energy sector. With this agreement, Qualitas Energy positions itself as one of the relevant players in the PPA market at a European level and demonstrates our capacity to optimize our portfolio in all the markets in which we are present.”
On this transaction, Qualitas Energy was advised by Watson Farley & Williams (legal).
About Qualitas Energy
Qualitas Energy is a leading investment and management platform focused on renewable energy, energy transition, and sustainable infrastructure investment. Since 2006, the Qualitas Energy team has managed investments of more than €11 billion in renewable energy worldwide. These investments have been deployed through five vehicles: Fotowatio / FRV, Vela Energy, Q-Energy III, Q-Energy IV, and Q-Energy V. Qualitas Energy’s existing portfolio currently holds more than 5 GW of operating and development energy assets, including more than 3 GW of wind, more than 1 GWp of solar PV, 242 MW of solar thermal power (CSP), 180 MW of renewable natural gas, 108 MW of battery, and 60 MW of hydroelectric power assets across Spain, Germany, the UK, Italy, Poland, and Chile. Since 2020, Qualitas Energy has produced sufficient energy to power 1.54 million homes and, since 2021, has successfully avoided emissions of 1.32 million metric tons of CO2 equivalent. The Qualitas Energy team is composed of more than 600 professionals across eleven offices in Madrid, Berlin, London, Milan, Hamburg, Wiesbaden, Trier, Cologne, Stuttgart, Warsaw, and Santiago.