China’s CTG Said to Ink Deal for Northleaf’s Spanish Solar Plant

China Three Gorges Corp. has agreed to buy a 494-megawatt solar plant in Spain from Canada’s Northleaf Capital Partners Ltd., according to people with knowledge of the matter.

The deal values the Mula plant in Murcia, one of Europe’s largest, at about €430 million ($449 million), including debt, the people said, asking not to be identified as the matter isn’t yet public. Northleaf holds an 81% stake in the project, while Spanish fund Qualitas Energy owns the rest.

The acquisition will allow CTG to build on its position in the Iberian region — a market it regards as strategic — ...