August 15, 2024

Asheville, North Carolina– Today, Pine Gate Renewables LLC announced the closing of a series of real estate transactions with HASI, a leading investor in climate solutions, in the second quarter of 2024 for more than 2,000 acres of land in Alabama on which Pine Gate will develop, own, and operate solar projects with an aggregate capacity of over 240 megawatts. The transaction, the first of its kind with HASI, will support Pine Gate’s plan to optimize capital and accelerate development activities across its 30 GW pipeline. 

“We continue to forge partnerships that allow us to pioneer project development and execution in new markets and deliver value to Pine Gate’s bottom line,” said Meghan Comiskey, Senior Vice President of Project Finance at Pine Gate Renewables. “We’re proud to partner with HASI on scalable transactions to efficiently raise and invest capital as we work to deliver The Power of Tomorrow™.”  

“We are pleased to partner with Pine Gate Renewables, a company that shares our commitment to accelerating clean energy deployment,” said Manny Haile-Mariam, Senior Managing Director of Investments at HASI. “These repeatable transactions underscore the strength of our programmatic client-centric approach, providing Pine Gate with capital to deliver on their substantial solar pipeline.” 

Orrick, Herrington & Sutcliffe’s San Francisco office advised Pine Gate on the transaction and Bradley’s Montgomery office provided local counsel. Akin Gump Strauss Hauer & Feld’s Los Angeles office advised HASI. 

 

About Pine Gate Renewables

Pine Gate Renewables is a developer and owner-operator of utility scale solar and energy storage projects across the United States. Founded in 2016, Pine Gate is dedicated to the innovative deployment of clean energy and has extensive experience in the development, financing, construction, and operation of solar and energy storage facilities. A trusted partner and leader in the industry, Pine Gate has closed more than $7 billion in project financing and capital investment. Pine Gate’s operational fleet includes over 100 solar facilities accounting for more than two gigawatts (GW) of installed capacity and it has over 30 GW of projects in development. 

 

Media Contacts

Pine Gate Renewables
Kristen McKenzie
(843) 819-4402
[email protected]