- The transaction includes the acquisition of VIP’s portfolio of greenfield solar and onshore wind projects located in the Southwest and Western regions of the United States
- Mike Weich, former CEO of VIP, will assume the role of CEO at Heelstone Renewable Energy (“Heelstone”)
- This acquisition represents another milestone in Heelstone’s strategic expansion into a fully integrated renewable energy independent power producer (IPP)
DURHAM, N.C., May 05, 2025 (GLOBE NEWSWIRE) — Heelstone Renewable Energy (“Heelstone”), a premier U.S. utility-scale renewable energy platform, has acquired the wind and solar development assets and the team of Valor Infrastructure Partners (“VIP”), a renewable energy company based in Palm Beach, Florida. This transaction marks Heelstone’s first acquisition since its purchase in May 2024 by Qualitas Energy, a leading global investment and management platform with a dual focus on both funding and developing renewable energy, energy transition, and sustainable infrastructure.
The acquired portfolio of development-stage projects includes a number of early-stage onshore wind projects in the Western region of the country, as well as an advanced-stage solar PV project in Texas, which has an expected installed capacity of 190 MWp and a targeted commercial operation date (COD) between 2027 and 2028, subject to development progress.
As part of the transaction, eleven experienced professionals from VIP will join Heelstone’s team, bringing deep expertise across onshore renewables—including solar, wind, and battery storage. Among them are Mike Weich, former CEO of VIP, who will assume the role of CEO at Heelstone, and Daryl Hart, former Chief Development Officer of VIP, who will take on same role at Heelstone.
Heelstone, headquartered in Durham, North Carolina, now comprises around 60 professionals whose capabilities span the full lifecycle of renewable energy projects. The team brings a robust understanding of the U.S. market landscape, backed by extensive experience in project execution.
With a portfolio of over 5 GW and a track record that has been built over more than a decade, Heelstone continues to grow as a premier renewable energy development platform. Under the ownership of Qualitas Energy, the company is evolving into a fully integrated IPP and reinforcing its intention to become a market leader in developing, de-risking, and executing renewable energy projects. This acquisition marks a significant step forward in that objective, as it will expand the company’s capabilities, technology focus, and geographic reach.
Alejandro Ciruelos, Partner and Country Head USA at Qualitas Energy said: “Heelstone’s resilient business model and solid fundamentals provide a strong foundation for long-term growth. The integration of VIP’s team and select assets enhances our platform, combining best-in-class capabilities with a maturing project pipeline. With this strengthened position, Heelstone is ready to capitalise on strategic opportunities—both organically and through acquisitions—at a pivotal moment for the renewable energy industry, where high-quality execution is key to success.”
Mike Weich, CEO at Heelstone Renewable Energy, added: “I’m honored to lead Heelstone at such an exciting time for the company. With the support of Qualitas Energy and the addition of the VIP team, we’re well-equipped to expand our footprint and accelerate the delivery of high-quality renewable energy projects. Together, we’re building a stronger, more agile platform ready to meet the growing demand for clean energy across the U.S.”
About Heelstone Renewable Energy
Heelstone Renewable Energy, LLC (Heelstone) is a leading solar and storage independent power producer with expertise in development, construction, and operation. Based in Durham, North Carolina, Heelstone has extensive knowledge of project finance and a proven track record from over a decade in bringing utility-scale solar projects to fruition. Heelstone continues to add to its development pipeline and operating portfolio as it expands its presence in markets across the United States. For more information, visit www.heelstoneenergy.com.
About Qualitas Energy
Qualitas Energy is a leading global investment and management platform with a dual focus on both funding and developing renewable energy, energy transition, and sustainable infrastructure.
Since 2006, the Qualitas Energy team has managed investments of over €14 billion in renewable energies worldwide. These investments have been deployed through five vehicles: Fotowatio / FRV, Vela Energy, Qualitas Energy III, Qualitas Energy IV, and Qualitas Energy V.
Qualitas Energy’s existing portfolio currently comprises over 11 GW of operating and development energy assets across Spain, Germany, the UK, Italy, Poland, Chile, and the United States. This includes 7 GWp of solar PV, 4 GW of wind energy, 242 MW of concentrated solar power (CSP), 136 MW of battery storage, 66 MW of hydroelectric power, and 1.9 TWh of biomethane.
Qualitas Energy has produced enough energy to supply 1.2 million homes and has successfully avoided the emission of 1 million metric tonnes of CO2 equivalent since 2022.
The Qualitas Energy team is composed of more than 540 professionals across fifteen offices in Madrid, Berlin, London, Milan, Hamburg, Wiesbaden, Trier, Cologne, Stuttgart, Warsaw, Wroclaw, Santiago, Durham, Bristol, and Edinburgh.
Please visit qualitasenergy.com for further information.
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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b408bdd9-6bd6-41fb-8e09-4615cffe2648