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Qualitas Energy buys Heelstone with 20GW US solar and storage portfolio

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A 494MWp PV venture owned by Qualitas. Image: Qualitas Energy

Global renewables funding platform Qualitas Energy has obtained US solar and storage platform Heelstone Renewable Energy for an undisclosed sum.

Incorporated within the transaction is Heelstone’s hefty 20GW portfolio of solar and storage initiatives. The majority of the initiatives are within the event or engaging-to-produce stage, with 179MW operational and 175MW below constructing. Qualitas said that Heelstone will continue to operate as an autonomous commercial within its contemporary owner’s portfolio.

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Heelstone, which is based entirely in Chapel Hill, North Carolina, had hitherto been managed by funds and accounts owned by non-public equity agency Ares Administration Corporation, an organization that also owns majority shares in US renewables developer Apex Neat Energy.

The acquisition will facilitate Heelstone’s ongoing transition to change into an autonomous vitality producer (IPP), with possession of its initiatives as smartly as to its venture style history.

Justin Gravatt, CEO of Heelstone said: “Heelstone is amazingly fortunate to have had the opportunity to work with Ares since 2019 thru a really successful partnership and duration of development.  With the closing of this acquisition, the Heelstone team is having a stare forward to the next section of development thru our partnership with Qualitas Energy.  We are very wrathful to be in a position to work with world-class investors as we peep to leverage our past successes into the persevered evolution of our IPP platform going forward.”

Qualitas first entered the US market in 2008 thru its Spanish solar developer subsidiary Fotowatio Solar Renewable Ventures, which it supplied in 2015 to the Dubai-based entirely Abdul Latif Jameel Energy and Environmental Companies and products.

This deal marks its return to the US market at a time when renewable energy initiatives are drawing attention and finance as a outcomes of the Inflation Reduction Act’s (IRA) tax incentives.

Iñigo Olaguíbel, founding partner & CEO of Qualitas Energy said: “This acquisition aligns completely with Qualitas Energy’s long-time duration needs, accelerating the event of renewable energy initiatives within the United States. We are dedicated to re-establishing it as one amongst our core markets, leveraging our skills and successful observe document, alongside with the favourable atmosphere for energy transition initiatives and the stable and treasured capabilities from Heelstone.”

Funding companies cherish Qualitas have been attempting to catch out ample renewable energy portfolio possession within the US in most modern months, as initiatives are significantly treasured for the time being; Brookfield Renewables and Exus Asset Holdings have made mountainous acquisitions within the wonderful year, amongst others. Here is in step with prognosis from Wood Mackenzie, who spoke to PV Tech Top fee wonderful week.  

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