Qualitas Energy has signed a definitive agreement to acquire Cero Generation’s European renewable energy platform from Macquarie Group, which includes a 5.8 GW portfolio of solar photovoltaic and battery energy storage projects. The portfolio covers the UK, Italy, and Spain, incorporating over 2 GW of projects that are either operational or under construction, in addition to a 3.8 GW development pipeline.
This acquisition will also strengthen Qualitas Energy’s capabilities, as it includes Cero Generation’s teams from their offices in London, Milan, and Madrid. Cero Generation, established by Macquarie Group in 2021, focuses on solar PV and battery storage project development.
Following the acquisition, Cero Generation will operate under its current brand as part of Qualitas Energy. The transaction is part of Qualitas Energy Fund VI’s strategy to pursue significant corporate and platform-level deals in renewable energy.
The deal is expected to close soon, pending standard conditions. Nomura is advising Qualitas on M&A, while various firms provide legal and financial advice. Qualitas Energy has invested over €14 billion in the global energy transition since 2006, with an existing portfolio of approximately 11 GW of renewable assets.
Key Quote:
Daniel Parejo, Managing Partner and Chief Investment Officer of Qualitas Energy, stated that Cero Generation is a strategic fit, built on strong foundations and capable of supporting its next growth phase.
