Pine Gate Nets Equity Position to Support 780 MW Portfolio

Pine Gate Renewables has closed on a $288 million preferred equity investment with funds affiliated with Blackstone Credit & Insurance. 

The investment supports six solar projects across two states totaling 780 MW, backed by corporate offtake agreements. 

“Leading Pine Gate’s first preferred equity investment was a significant milestone for our team and the enterprise at large,” says Pine Gate Renewables’ Meghan Comiskey. 

“A multi-portfolio transaction with the exceptional partnership of Blackstone enables us to scale our business efficiently as we generate The Power of Tomorrow.”

Stoel Rives advised Pine Gate Renewables on the transaction. Milbank LLP advised Blackstone Credit & Insurance.