Pine Gate Renewables, a developer and owner-operator of utility-scale solar and energy storage projects across the United States, has closed a $288 million preferred equity investment with funds affiliated with Blackstone Credit & Insurance (BXCI).
The investment supports six solar projects across two states totaling 780 megawatts dc, all backed by corporate offtake agreements.
Pine Gate has closed more than $7 billion in project financing and capital investment. The company’s operational fleet includes more than 100 solar facilities accounting for more than two gigawatts of installed capacity. Pine Gate also has more than 30 gigawatts of projects in development.
The company said the new partnership with Blackstone illustrates its preference to execute replicable, scalable transactions and underscores it as a preferred provider of commercial renewable-energy solutions.
BXCI, one of the world’s leading credit investors, seeks to generate attractive
