Pine Gate Renewables Expands Financing to Sustain Operations and Sales Efforts
Actively Engaging with Prospective Buyers
Initiates Chapter 11 with Stakeholder Support
Operations to Remain Stable During Proceedings
ASHEVILLE, N.C., Nov. 6, 2025 /PRNewswire/ — Pine Gate Renewables, LLC, a prominent entity in the renewable energy sector, has revealed its strategy to initiate a comprehensive sales process for a significant portion of its assets and business functions. The company’s ongoing operations will continue seamlessly while it navigates a competitive sales landscape involving multiple potential buyers to ensure a smooth transition of its solar and energy storage projects, with an emphasis on safeguarding employment and maximizing asset value.
To facilitate this strategy, Pine Gate has secured financial commitments from current lenders to sustain daily operations and progress with projects in various stages of development and construction. As part of this financial arrangement, Pine Gate has entered into specific agreements with its lenders, which include:
- Arrangements with certain secured lenders to divest specific solar projects and developmental assets, with each lender acting as the “stalking horse bidder” for its asset portfolio, open to superior bids.
- An agreement with another secured lender to transfer Pine Gate’s independent power producer platform and extensive development pipeline, comprising approximately 10 GWdc of new project capacity. This lender also serves as the stalking horse bidder for these assets, subject to higher offers.
To optimize the sales process and benefit all stakeholders, Pine Gate and its subsidiaries have voluntarily initiated Chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of Texas. The company anticipates completing its marketing and sales efforts, enabling interested entities to submit competing bids, within approximately 45 days.
ACT Power Services, Pine Gate’s operations and maintenance provider, remains unaffected by the Chapter 11 filing. Nonetheless, Pine Gate is in discussions with several parties to identify a beneficial sale for this division.
During the court-supervised process, Pine Gate and ACT Power Services will continue their support for project partners, advance ongoing projects, and provide necessary operational services. Existing projects will persist in generating and selling energy.
“Since our founding almost 10 years ago, Pine Gate has grown tremendously, deploying innovative solar and energy storage projects at scale that enable us to deliver renewable, reliable, and affordable energy,” stated Ben Catt, CEO of Pine Gate. “To ensure that our projects continue generating renewable energy, we made the strategic decision to commence this court-supervised sales process. With significant financial support from certain of our current lenders, we’re confident that we will successfully conduct a competitive sales process that reflects the inherent value of our nationwide portfolio of solar and energy storage projects.”
Catt added, “I’m grateful for the hard work and dedication of the Pine Gate team who has been key to helping us drive the renewable energy transition. As we move through this process, we remain committed to supporting our valued project partners across our more than 100 operational solar facilities and forging ahead with our projects in development and under construction.”
Additional Information on the Sales Process
Pine Gate has filed several “first day” motions with the Court to maintain smooth operations and fulfill ongoing commitments to stakeholders. These include motions to continue employee compensation and benefits and uphold obligations to commercial partners. The company expects these motions to be approved soon.
To support the restructuring, Pine Gate has appointed Mark Rajcevich from Alvarez & Marsal as Chief Restructuring Officer. Rajcevich brings over two decades of restructuring and energy industry experience.
Further details on Pine Gate’s sales process can be found on their restructuring site, www.PGRsaleprocess.com. Additional court documents are accessible via Omni Agent Solutions at https://omniagentsolutions.com/PGR, by phone at +1 (888) 812-2572, or via email at PGRInquiries@omniagnt.com.
Advisors
Pine Gate has enlisted Latham & Watkins LLP and Hunton Andrews Kurth LLP for legal counsel. Alvarez & Marsal is advising on restructuring, Lazard serves as investment banker, and Joele Frank, Wilkinson Brimmer Katcher manages strategic communications.
About Pine Gate Renewables
Pine Gate Renewables focuses on developing and managing renewable energy projects across the U.S., with over 30 GW in its development pipeline. The company has secured around $10 billion in project financing and operates over 2 GW of solar and storage assets, also providing services to over 7 GW of third-party assets through its subsidiary ACT Power Services. Pine Gate invests in community initiatives via the Pine Gate Community Impact Fund.
Media Contact
Pine Gate Renewables
Kristen McKenzie
Andy Brimmer / Aaron Palash / Richard M. Goldman
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449
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SOURCE Pine Gate Renewables
Original Story at www.wrex.com