Spanish renewables investor Qualitas Energy, through Qualitas Energy Fund VI, signed a definitive agreement to acquire Cero Generation’s core European platform from Macquarie Group, trade press reported Sept. 7 and Sept. 8. The portfolio totals 5.8 GW of solar PV and battery storage across the UK, Italy, and Spain.
More than 2 GW is operational, under construction, or ready to build, with about 3.8 GW in earlier-stage development. Public materials do not break out a solar-versus-storage split for the full 5.8 GW. After close, the business is expected to continue under the Cero Generation brand as an independent Qualitas portfolio company, with teams in London, Milan, and Madrid. Macquarie founded Cero in 2021.
Financial terms were not disclosed. The deal is expected to close in the coming months, subject to customary conditions. Qualitas described Fund VI as its flagship vehicle for larger platform-level deals.
Sources: Power Technology Sept 8 (5.8 GW; more than 2 GW operational, construction, or ready to build plus 3.8 GW development; UK, Italy, Spain; Fund VI; Cero brand continues; close coming months); ESS News Sept 8 (same GW split; terms not disclosed); Pulse2 circa Sept 12 (definitive agreement; terms not disclosed; Fund VI); AssetPhysics Sept 7 (Qualitas definitive-agreement language; 5.8 GW; Fund VI; close coming months); PV Tech Sept 8 (terms not disclosed; Fund VI; Macquarie founded Cero 2021).
