Spain-based renewables investor Qualitas Energy has acquired a 164MW-peak (MWp) development-stage solar photovoltaic (PV) project in Illinois, US, from Bechtel Enterprises.
The acquisition has been completed via Qualitas Energy Fund VI, which the group launched at the end of 2025.
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The site, currently in the development phase, is situated within the Midcontinent Independent System Operator (MISO) market.
According to the company, the notice to proceed (NTP) for the project is anticipated in the second quarter of 2028 (Q2 2028).
The solar facility is expected to commence commercial operations in Q3 2029.
The project has complete control of its site, holds all the required permits and gained unanimous approval from the local community during the county’s permitting process.
Qualitas Energy US partner Alejandro Ciruelos said: “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 commercialisation pathways in one of the country’s most attractive power markets. This transaction also underscores the strategic relevance of the US for Qualitas Energy.”
Qualitas Energy plans to leverage its combined expertise in investment, development and asset management to mitigate risks and advance the project through its next phases.
These steps include refining the strategy for power offtake, procurement, construction planning and securing financing.
There is also potential for further value by adding up to 64MW-alternating current of battery storage in the future.
This could allow the company to offer a combined solar and storage power purchase agreement, supporting commercial flexibility and revenue over time.
Additionally, the Illinois facility features an interconnection position within the MISO market, allowing access to both Minnesota and Illinois hubs, and offering multiple options for power offtake.
Possibilities for sales include agreements with corporate and industrial consumers, traditional utilities and public renewable energy programmes.
Qualitas Energy received legal advice on the transaction from Norton Rose Fulbright, technical support from Sargent & Lundy, and financial and tax guidance from Leo Berwick.
In April this year, Qualitas Energy acquired nine operational solar PV plants in Poland with a combined capacity of 376MWp.
