Heelstone Renewable Energy has acquired the development portfolio of Valor Infrastructure Partners (VIP), including a mix of solar and onshore wind projects in the United States.
North Carolina-based renewables platform Heelstone, a Qualitas Energy company, has also taken on VIP’s former chief executive Mike Weich (pictured) as its new CEO.
VIP is a renewable energy company based in Palm Beach, Florida.
The transaction includes the acquisition of VIP’s portfolio of greenfield solar and onshore wind projects located in the southwest and western regions of the US.
The deal marks Heelstone’s first acquisition since its purchase in May 2024 by Qualitas Energy.
The acquired portfolio of development-stage projects includes a number of early-stage onshore wind projects in the western region of the country.
It also includes an advanced-stage solar PV project in Texas, which has an expected installed capacity of 190MWp and a targeted commercial operation date between 2027 and 2028, subject to development progress.
As part of the transaction, 11 professionals from VIP will join Heelstone’s team, bringing expertise across onshore renewables, including solar, wind, and battery storage.
Among them are former VIP chief executive Weich, who will assume the role of CEO at Heelstone, and Daryl Hart, former chief development officer of VIP, who will take on the same role at Heelstone.
Alejandro Ciruelos, partner and country head USA at Qualitas Energy, said: “Heelstone’s resilient business model and solid fundamentals provide a strong foundation for long-term growth.
“The integration of VIP’s team and select assets enhances our platform, combining best-in-class capabilities with a maturing project pipeline.
“With this strengthened position, Heelstone is ready to capitalise on strategic opportunities – both organically and through acquisitions – at a pivotal moment for the renewable energy industry, where high-quality execution is key to success.”
Weich added: “I’m honored to lead Heelstone at such an exciting time for the company.
“With the support of Qualitas Energy and the addition of the VIP team, we’re well-equipped to expand our footprint and accelerate the delivery of high-quality renewable energy projects.
“Together, we’re building a stronger, more agile platform ready to meet the growing demand for clean energy across the US.”