Qualitas Energy has inked a deal for the 494MW solar plant in Spain.
The company has signed a long-term power purchase agreement for the output from the project. It has been managed by the funds from Qualitas Energy and Northleaf Capital Partners.
The project is located in Mula in the region of Murcia, in southern Spain.
Under the agreement, it has been mentioned that the generated energy will be sold to an IG global energy company for the next 10 years, the company stated.
With this, it is regarded as the largest PPA with a single asset in Europe. Last year, Qualitas had sealed a PPA for the Polish PV plant with a capacity of 113MW.
Qualitas Energy has been exploring new PPA opportunities in the markets in the countries like Germany, Italy, the United Kingdom, and Poland. It stated, “these countries are the main investment focuses of the fifth flagship fund QE V.”
This new Qualitas Energy vehicle has a target size of €1.6 billion.
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