Pine Gate Renewables has entered into a partnership with John Hancock to own and manage 413 megawatts across 35 solar facilities in North Carolina, South Carolina and Oregon.
Pine Gate — a national utility–scale solar developer, owner and operator — will continue to operate and provide asset management services for the facilities, while John Hancock is taking an equity interest in the facilities. Terms of the transaction have not been disclosed.
The stake was acquired by John Hancock Life Insurance Co. and the John Hancock Infrastructure Fund, an infrastructure-focused private equity fund with approximately $2 billion of committed capital, managed by the John Hancock Power & Infrastructure team.
