Generate Capital has made a strategic growth investment of $500 million in Pine Gate Renewables, a renewable-energy developer for utility-scale solar and storage.
The investment is broken down into a $200 million equity investment and a $300 million commitment to a long-term asset partnership for solar-project financing.
Pine Gate owns and operates more than 1 gigawatt of renewable-energy projects and has more than 20 gigawatts in active development projects throughout the United States. The funds will provide Pine Gate with additional capital to pay for construction and development of renewable-energy projects and meet other general working capital purposes.
“Pine Gate is thrilled to be partnering with Generate to accelerate the growth of our business,” said Ben Catt, CEO of Pine Gate. “Generate is a collaborative, experienced partner and shares Pine Gates’ long-term vision of driving the energy transition and improving energy security by providing sola