Pine Gate Renewables Executes 1 GW of Power Purchase Agreements

Major US Firms Announces Financing & Investments for Solar Projects, Energy Storage

North Carolina, US based Pine Gate Renewables has announced that it has successfully contracted nearly 1 GW of late-stage solar development projects. Pine Gate claims to be a leading renewable energy developer for utility-scale solar and storage.

The official statement of Pine Gate Renewables held that the combined Power Purchase Agreements (PPAs) support enough energy production to power a major city. The company said that the development showcases the power of collaboration and creativity among industry stakeholders.

Pine Gate mentioned that the executed PPAs will enable the construction of ten new large-scale solar projects; thanks to corporate and utility partners who envision a cleaner energy future. With an investment of over $1 billion in clean energy construction across the Mid-Atlantic, Southeast and Texas, these projects will bring strong economic development benefits to local communities.

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David Groleau, Senior Vice President at Pine Gate Renewables, said, “Our partners truly are the driving force in the growth of renewables in this uncertain environment. Solar gets done because partners are relentlessly driving forward their environmental commitments, no matter the market challenges or headwinds. These PPAs are a testament to our partners’ flexibility, creativity and vision.”

Pine Gate stated that these projects are expected to be operational between 2023 and 2024. The company said that it has over 20 GW of solar and storage large-scale projects in development throughout the United States of America.

“Pine Gate is excited to work so closely with some of the world’s most respected brands. This demand is only the start to a strong renewable future,” said Ben Catt, CEO, Pin Gate Renewables.

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The solar power growth in America is going through a robust phase. According to US Energy Information Administration, solar power will account for nearly half of the new electricity generation in 2022. At the end of this year, the administration expects 46.1 GW of new utility-scale electric generating capacity to be added to the US power grid.

Pine Gate Renewables

Pine Gate Renewables is a renewable energy company focused on project development and strategic financing of solar and storage projects throughout the USA. From coast to coast, it owns and operates projects that create a positive impact on local communities and the America’s environmental footprint. Headquartered in Asheville, NC, Pine Gate Renewables was named to Fast Company’s Most Innovative Companies list in 2021.

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