Pine Gate Renewables Closes $290 Million in Debt Financing, Executes First Tax Credit Transfer

Stoel Rives represented Pine Gate Renewables, LLC, in closing $290 million in back leverage debt financing, which will be used to support development of three solar projects in Alabama and Texas, and in executing its first solar investment tax credit transfer agreement. Under the agreement, Pine Gate will sell tax credits generated from the three projects to an investment-grade corporate buyer.

Founded in 2016, Pine Gate Renewables develops, owns and operates utility-scale solar and energy storage projects nationwide. The company operates 100+ solar facilities with total installed capacity of more than two gigawatts and has over 30 gigawatts of projects in development.

The Stoel Rives deal team was led by Heather Stewart and included Kevin Pearson, Bo Harvey, Christopher Pearson, Archer Wu, Travis Stadler, and others.

For more information, see the Pine Gate Renewables press release.