Morgan Lewis Advises Ares Management Corp. on Sale of Heelstone Renewable Energy
Boston, January 31, 2024: Ares Management Corp. has sold Heelstone Renewable Energy, a US utility-scale renewable energy platform, to Qualitas Energy with legal advice from Morgan Lewis. 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. The deal allows Heelstone to continue operating as an independent business within Qualitas Energy.
This is not the first collaboration between Ares and Morgan Lewis. In December 2021, Morgan Lewis advised Ares as they raised $2.2 billion to invest in climate infrastructure.
Ares Management Corp. is a global alternative investment manager that offers clients primary and secondary investment solutions across various asset classes, including credit, private equity, real estate, and infrastructure. On the other hand, Qualitas Energy is an investment and management platform focused on renewable energy, energy transition, and sustainable infrastructure investments.
The legal advisory team from Morgan Lewis consisted of Partners Michael Muller and Richard Filosa, along with associates Ashley Keenan and Kristin Hasselgren. They were supported by Partners Daniel Nelson, Meghan McCarthy, and Harry Robins, as well as associate Benjamin Kurland.
For more information about the sale, please refer to the official announcement on theRenews.biz website.
