Qualitas Energy, an investment firm specializing in renewable energy, energy transition, and sustainable infrastructure, has acquired a development-stage solar project in Illinois, U.S., with a planned capacity of 164 MW from Bechtel Enterprises.

The transaction was carried out through Qualitas Energy Fund VI, which was launched at the end of 2025.

Norton Rose Fulbright advised Qualitas Energy on legal matters. Sargent & Lundy served as technical adviser, and Leo Berwick advised on financial and tax matters.

Qualitas Energy said the project has 100% site control and has received all required permits. It also received unanimous approval during the county permitting process.

The company said it will use its investment, development, and asset management capabilities to advance the project through its next phases, including offtake strategy, procurement, construction planning, and financing.

The project, located in the Midcontinent Independent System Operator market, could include up to 64 MWac of battery storage in the future. Qualitas Energy said the storage component could support a bundled solar-plus-storage power purchase agreement and provide more commercial flexibility.

“This acquisition reflects Qualitas Energy’s disciplined investment approach and its ability to identify high-quality renewable energy assets with strong value creation potential. The project combines advanced development status, strong fundamentals, and multiple commercialization pathways in one of the country’s most attractive power markets. This transaction also underscores the strategic relevance of the United States for Qualitas Energy,” said Alejandro Ciruelos, partner at Qualitas Energy.

The company expects the project to receive notice to proceed in the second quarter of 2028 and begin commercial operations in the third quarter of 2029.

According to Mercom’s Q1 2026 Solar Funding and M&A report, approximately 18.4 GW of solar projects were acquired in the first quarter of 2026, compared to 13.6 GW in Q1 2025.

In May 2026, SolarAfrica, an independent renewable power producer, signed an agreement to acquire the 315 MW Nyakallo solar and battery storage project in Limpopo, South Africa, from Norsk Renewables, a Norwegian renewable energy project developer.