Heelstone Renewable Energy, a renewable energy platform headquartered in North Carolina and a subsidiary of Qualitas Energy, has acquired the development portfolio of Valor Infrastructure Partners (VIP), a Palm Beach-based renewables company. The transaction encompasses a mix of solar and onshore wind energy projects located across the southwestern and western United States.
The acquisition marks Heelstone’s first major move since it was itself acquired by Qualitas Energy in May 2024. The newly obtained portfolio features several early-stage onshore wind initiatives as well as a late-stage solar PV project in Texas. The Texas project, with an expected installed capacity of 190MWp, is targeting a commercial operation date between 2027 and 2028, depending on development progress.
In addition to the project assets, the deal includes a team transition: eleven professionals from VIP will join Heelstone, bringing expertise in project development across solar, wind, and battery storage. This includes Mike Weich, former CEO of VIP, who will assume the role of CEO at Heelstone, and Daryl Hart, previously VIP’s Chief Development Officer, who will take on the same position at the acquiring firm.
According to Qualitas Energy, the acquisition is aligned with its long-term growth strategy in the U.S. renewable energy market and supports Heelstone’s ambition to expand its development capabilities nationwide.
Transaction Details
| Attribute | Value |
|---|---|
| Country | United States |
| Location | Southwest and Western U.S.; Texas |
| Size (MW) | e.g. 190 (Texas solar PV project), further projects |
| Name of developer | Valor Infrastructure Partners (VIP) |
| Name of acquirer | Heelstone Renewable Energy |
| Notable Details | Team of 11 professionals joined; includes new CEO and CDO; includes wind and solar; 190MWp project targets COD in 2027–2028 |
Picture Soure: Alexander Mills
