BOSTON, JANUARY 31, 2024: Morgan Lewis advised Ares Management Corp. on its sale of Heelstone Renewable Energy, a US utility-scale renewable energy platform, to Qualitas Energy. Headquartered in Chapel Hill, North Carolina, Heelstone holds a portfolio of 20 GW comprising solar photovoltaic (PV) and storage assets, including operational, under-construction, ready-to-build, and in-development projects. As part of the deal, Heelstone will continue its operations as an independent business within Qualitas Energy.
Morgan Lewis previously advised Ares in December 2021 as Ares raised $2.2 billion to invest in climate infrastructure.
Ares is a global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate, and infrastructure asset classes. Qualitas Energy is an investment and management platform focused on renewable energy, energy transition, and sustainable infrastructure investments.
Partners Michael Muller and Richard Filosa and associates Ashley Keenan and Kristin Hasselgren advised Ares, along with partners Daniel Nelson, Meghan McCarthy, and Harry Robins and associate Benjamin Kurland.