Qualitas Energy agreed to acquire Macquarie Group the main European platform of Zero Generation, whose portfolio brings together solar photovoltaic projects and BESS storage systems in the United Kingdom, Italy and Spain.
The operation incorporates 5.8 GW of renewable energy projects and strengthens Qualitas Energy presence in three of Europe’s most important energy markets. Following the completion of the transaction, Cero Generation will continue to operate under its own brand.
Cero Generation’s portfolio reaches 5.8 GW
Currently, the platform has more than 2 GW of assets in operation, under construction or ready-to-build phase this capacity is complemented by approximately 3.8 GW of projects that are in various stages of development.
The presence of these assets in the United Kingdom, Italy, and Spain will allow Energy Quality to expand its exposure to the European renewables market through a combination of solar photovoltaic generation and battery storage.
The acquisition also includes Cero Generation’s teams and offices in London, Milan, and Madrid, so the company can retain local capabilities to manage projects throughout the different stages of their life cycle.
Solar energy and BESS storage within the operation
Cero Generation is an independent power producer (IPP) specializing in the development, construction and operation of projects photovoltaic solar energy and battery energy storage systems (BESS).
Macquarie Group created the company in 2021 and, since then, the platform has operated independently within its investment portfolio.
The Zero Generation model encompasses the entire project lifecycle, from the initial development phases through construction and subsequent operation. This structure aligns with the vertically integrated industrial approach that Qualitas Energy employs in its investments.
Zero Generation will retain its brand after the acquisition
Once the operation is completed, Zero Generation will continue to operate under its current bran and will maintain its structure as an independent company within the Qualitas Energy portfolio.
The transaction will be carried out through Qualitas Energy Fund VI (QE VI), the firm’s newest flagship fund. Its strategy includes corporate and platform acquisitions with the aim of expanding the scale of its investments in energy infrastructure.
Daniel Parejo, managing partner and chief investment officer of Qualitas Energy, noted that Cero Generation fits into the company’s European strategy and highlighted the platform’s existing presence in markets considered strategic for the firm.
Qualitas Energy expands its renewable presence in Europe
With the addition of Cero Generation, Qualitas Energy strengthens its operations in the United Kingdom, Italy and Spain and adds a portfolio that combines assets in operation, projects about to enter construction and capacity still under development.
The combination of solar energy and BESS storage also brings greater diversification within the European renewable infrastructure, especially in markets where battery integration is gaining importance for managing variable generation.
The closing of the transaction is expected in the coming months and remains subject to customary closing conditions. Qualitas Energy is being advised by Nomura on its M&A matters, Herbert Smith Freehills Kramer on legal matters, DNV and Kiwa Moroni on technical matters, and KPMG on financial and tax matters.
Source: The Energy Newspaper
Photo: Quality Energy
