Asheville, NC (December 27, 2021) – Pine Gate Renewables and Irradiant Partners, LP (“Irradiant”) announced the financing of two more solar projects in Michigan, which will bring 56MWdc/40MWac of solar energy to the communities of Montague in Muskegon County and Owosso in Shiawassee County. MacBeth Solar and Lyons Road Solar are now under construction and are anticipated to be online by early next year. Once operational they will provide enough energy to power approximately 6,300 homes annually through 20-year power purchase agreements (PPA) with Consumers Energy.
“In recent years, Michigan has shown an increased appetite for building out its renewable energy plans for the future and we’re excited to be working with the leaders of this beautiful state to bring MacBeth and Lyons Road online,” said Ben Catt, CEO of Pine Gate Renewables. “In addition to generating clean energy, our solar projects will provide local construction jobs to dozens of workers, infuse money into local businesses and subcontracting companies and provide tax revenue to the cities of Montague and Owosso.”
“We are thrilled to continue with our buildout of our solar footprint in Michigan,” said Alta Yen, Managing Director of Irradiant. “We look forward to completing these projects with our EPC partner Blue Ridge Power, and further progressing our Michigan pipeline.”
Irradiant worked with U.S. Bank which provided the tax equity and KeyBank which provided the construction and permanent financing for Macbeth Solar and Lyons Road Solar.
In late 2020, Pine Gate and Irradiant announced the first 14 projects across Michigan, all of which are now operational and providing 40MW of clean energy through 20-year PPAs with Consumers Energy. Pine Gate and Irradiant are developing an additional 22 projects totaling more than 400MW of projects contracted through similar 20-year bilateral agreements with Consumers Energy in development across Michigan.
About Irradiant Partners
Irradiant Partners, LP is an alternative investment manager focused on liquid credit, opportunistic credit, and renewable private equity and credit. Funds managed by Irradiant currently have over 1GW of solar assets under development, construction or in operations. Irradiant manages over $6 billion in committed capital with over 30 professionals operating from Los Angeles, New York and Austin. For more information, visit irradiantpartners.com.
About Pine Gate Renewables
Pine Gate Renewables is a leading renewable energy company focused on project development and strategic financing of solar and storage projects throughout the United States. It currently manages 907MW of operational assets, with more than 12GW in active development and has raised over $3 billion in project capital to date. The company’s Pine Gate Impact initiative contributes to multiple non-profit organizations aimed at improving the environment and local communities. Headquartered in Asheville, NC, Pine Gate Renewables made the Inc. 5000 list in 2021, placing at #37; won The Cleanie Awards®’ Silver Award for “Midsized Company of the Year,” was awarded a top spot on Inc. magazine’s Best Workplaces list in 2021, named to Fast Company’s Most Innovative Companies list in 2021, included as a “Best Workplace” in Business North Carolina magazine, awarded the gold medal in the energy category for Inc.’s Best in Business 2020 list and ranked #6 on Inc. 500’s list of “Fastest Growing Energy Companies” in 2018. Pine Gate Renewables works every day to achieve its mission to “Get Solar Done.” For more information, visit pinegaterenewables.com.