A&O Shearman supports China Three Gorges on strategic acquisition of NCP Mula Solar

NCP Mula Solar (Spain), S.L. operates one of Europe’s largest solar plants with a flagship 494 MWp solar PV plant in Spain, producing 750 GWh annually and powering 450,000 households.

This acquisition marks a significant milestone for CTG, the world’s largest producer of hydroelectric power and a key player in global renewable energy development. It strengthens CTG’s strategic position in the Iberian region, enhancing its existing renewable capacity in Spain, where it already operates around 1.9 GW of renewable capacity.

The A&O Shearman team was led by partner Ling Li and counsel Lucia He in Beijing, and partner Inigo Del Val and counsel Pablo Mendez in Madrid, with support from senior associates and specialists across multiple disciplines and offices, including senior associates Emilio Martinez and Nuria Ferre (ENRI, Madrid), associates Vicky Wang (ENRI, Beijing), Sergio Ochagavia, Irina Popa, Patricia Miralles, Cristina Palau (M&A, Madrid) and Maria Ramos (ENRI, Madrid). Madrid-based partner Antonio Martinez, counsel Jaime Rodriguez, senior associates Leopoldo Reano, Alvaro Sanchez-Bordona and Enrique Ferrer provided Spanish FDI and merger control advice. Expert support was also provided by team members in Madrid, London and Lang Yue, our joint operation partner in China, covering matters of FDI, antitrust, sector regulation, litigation, real estate and finance.