Heelstone Renewable Energy (“Heelstone”), a leading U.S. utility-scale renewable energy platform, has acquired the development assets and team of Palm Beach–based Valor Infrastructure Partners (“VIP”), a renewable energy company specializing in solar and wind. This marks Heelstone’s first strategic acquisition since it was acquired by Qualitas Energy in May 2024. Qualitas is a global investment and management platform focused on renewable energy, energy transition, and sustainable infrastructure.
The acquisition includes a portfolio of early-stage onshore wind projects in the Western U.S., as well as a late-stage 190 MWp solar PV project in Texas, which is targeting commercial operation between 2027 and 2028, subject to development milestones.
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.”
Mike Weich, CEO at Heelstone Renewable Energy, 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 U.S.”
In addition to the asset transfer, eleven seasoned professionals from VIP will join Heelstone, enhancing the company’s technical depth across solar, wind, and battery storage. Notably, Mike Weich, former CEO of VIP, has been appointed as Heelstone’s new CEO, and Daryl Hart, VIP’s former Chief Development Officer, will continue in that role at Heelstone.
Headquartered in Durham, North Carolina, Heelstone now employs approximately 60 professionals with end-to-end expertise across the renewable project lifecycle. With over 5 GW in its development portfolio and more than a decade of experience in the U.S. energy market, the company is well-positioned for continued expansion.
Under the ownership of Qualitas Energy, Heelstone is advancing its evolution into a fully integrated independent power producer (IPP). The VIP acquisition marks a significant milestone in that journey, broadening Heelstone’s technological capabilities, deepening its talent pool, and expanding its geographic footprint across key U.S. markets.
