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
Capital Structure
$288M
Total transaction value
Tranches
- Preferred equity · Blackstone Credit & Insurance
- $288M
Finance Counterparties
Lenders & Capital Providers
- equityInvestor
- Blackstone Credit & Insurance
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