Preferred equity for six solar projects totaling 780 MW across two states
Pine Gate's first preferred equity financing. Company later faced financial distress and pursued strategic sales process in 2025.
$288M
Deal Value
780MW
Capacity
Solar
Technology
Multi-state
Location
Deal Details
- Deal Type
- Project Finance
- Seller / Sponsor
- Pine Gate Renewables
- Buyer / Financier
- Blackstone Credit & Insurance
- Deal Value
- $288M
- Stage
- Construction / Operating
- ISO/RTO
- Multiple
- Source
- Pine Gate Renewables
Finance Counterparties
Lenders & Capital Providers
- equityInvestor
- Blackstone Credit & Insurance
Related Deals
Platform investment supporting development and financing of 3 GW of clean energy infrastructure
Pine Gate Renewables → Generate Capital, HOOPP, HESTA
$650M
Pine Gate Renewables ~1 GW solar portfolio — 9 projects across NC, SC, AL, TX (bankruptcy sale)
Pine Gate Renewables → Nofar USA (Nofar Energy)
$285M
$520M growth equity for community solar platform — supports multi-GW pipeline across US
Nexamp
$520M
Sunnova Hestia I Issuer — residential solar securitization with partial DOE guarantee backing
Sunnova Energy
$244M
SunPower assets (Chapter 11 stalking horse bid) — residential solar business
SunPower Corp → Complete Solaria
$50M (stalking horse bid)
SunZia Wind (3,515 MW) + SunZia Transmission (550-mile HVDC, 3,000 MW capacity) — largest clean energy infrastructure project in US history
Pattern Energy Group → Multiple (consortium)
$11B
Get deals like this in your inbox
Free weekly clean energy deal intelligence. Every Monday.