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Save to read list Published by Jessica Casey, Editor
Energy Global, Tuesday, 08 September 2026 09:00
Qualitas Energy, a leading global investment and management platform with a dual focus on both funding and developing renewable energy, energy transition, and sustainable infrastructure, has announced the signing of a definitive agreement providing for the acquisition of Cero Generation’s core European platform from Macquarie Group. Cero Generation is a leading European independent power producer (IPP) specialising in the development, construction, and operation of solar photovoltaic (PV) and battery energy storage system (BESS) projects.
The business was established in 2021 by Macquarie Group and has since operated as a standalone Macquarie portfolio company.
The transaction encompasses a 5.8 GW portfolio located across the UK, Italy, and Spain, comprising over 2 GW of assets in operation, under construction, or at the ready-to-build stage, together with a further 3.8 GW development pipeline. It also includes Cero Generation’s local teams and offices in London, Milan, and Madrid, significantly strengthening the Firm’s scale and capabilities across three markets where it already has an established presence.
Cero Generation operates an integrated, in-house model across the full project lifecycle, from development and construction through to operations. These capabilities closely align with Qualitas Energy’s vertically integrated industrial model.
Following completion, the acquired business will continue to operate under the Cero Generation brand as an independent portfolio company of Qualitas Energy.
The acquisition is being undertaken through the Firm’s latest flagship vehicle, Qualitas Energy Fund VI (QE VI), and supports one of the fund’s core investment strategies: a private-equity-driven approach focused on accelerating growth through larger scale corporate and platform-level transactions.
Daniel Parejo, Managing Partner and Chief Investment Officer of Qualitas Energy, said: “Cero Generation is a natural strategic fit for Qualitas Energy’s European portfolio and a compelling example of Qualitas Energy Fund VI’s platform-led growth strategy. Macquarie Group and the Cero Generation team have built a strong business, with a sizeable portfolio, deep local capabilities, and established positions across three of our core markets. We look forward to building on these foundations to support Cero Generation’s next phase of growth.”
The transaction is expected to close in the coming months, subject to customary conditions.
Qualitas Energy was advised by Nomura (M&A), Herbert Smith Freehills Kramer (legal), DNV and Kiwa Moroni (technical), and KPMG (financial, tax, and labour).
 
 
The Summer issue of 2026 is out now! The new issue starts with a regional report on Latin America and the Caribbean, considering the benefits and challenges of renewable energy development in the region. The issue also covers topics such as lubricants, digitalisation, the importance of ports, battery storage technology, and more! With contributors from industry leaders including ABB, WindEurope, Sungrow, among others, this is an issue not to miss.
Read the article online at: https://www.energyglobal.com/energy-storage/08092026/qualitas-energy-acquires-cero-generations-core-european-platform-from-macquarie-group/

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