Spanish Qualitas Energy Acquires 5.8GW Solar and Storage Platform

en.Wedoany.com Reported - Spanish renewable energy investment firm Qualitas Energy has agreed to acquire the core European platform of Cero Generation, a subsidiary of Macquarie Group, thereby securing a combined portfolio of 5.8 gigawatts (GW) of solar photovoltaic (PV) and battery energy storage system projects. Of this total, more than 2 GW consists of assets that are operational, under construction, or in the ready-to-build stage, while a further 3.8 GW is being advanced in development across the United Kingdom, Italy, and Spain.

The transaction also includes Cero Generation's teams and offices in London, Milan, and Madrid. Cero Generation operates under an internally integrated model, covering the full lifecycle of renewable energy projects from development and construction to ongoing operations, which aligns with Qualitas Energy's own vertically integrated industrial approach. The company was founded by Macquarie Group in 2021 and has since operated as an independent portfolio company; upon completion of the transaction, the acquired business will continue to operate under the Cero Generation brand as a standalone portfolio company within Qualitas Energy.

The acquisition will be carried out through Qualitas Energy Fund VI, Qualitas Energy's latest investment vehicle, which employs a private equity-led strategy targeting large-scale corporate and platform-level transactions. Daniel Parejo, Managing Partner and Chief Investment Officer at Qualitas Energy, stated that Cero Generation represents a natural strategic fit with its European portfolio and serves as an example of Qualitas Energy Fund VI's platform-led growth strategy; he also noted that Macquarie Group and the Cero Generation team have built a business with a substantial project pipeline and deep local capabilities, and the company looks forward to building on this foundation to support Cero Generation's next phase of growth.

The transaction is expected to close in the coming months, subject to customary closing conditions. Nomura is advising Qualitas Energy on the merger and acquisition matters, Herbert Smith Freehills Kramer is serving as legal counsel, DNV and Kiwa Moroni are providing technical support, and KPMG is advising on financial, tax, and labor matters.

In July 2026, Qualitas Energy secured approximately $196.7 million (€172 million) in non-recourse financing to fund a 156 megawatt-peak (MWp) greenfield solar PV portfolio in Italy.