ESG Today writes that North Carolina-based Pine Gate installs, owns and operates large scale solar and energy storage systems throughout the US and so far, the company closed over 7 billion USD worth-of project financing and capital investment. Its solar park is made of over 100 facilities with a total production capacity of over 2 gigawatts, having over 30 GW in development as of right now.

Generate Capital is among the institutional investors who participated in the 650 million USD round, having financed Pine Gate in 2022, as well, with 500 million USD

Ben Catt, Chief Executive Officer at Pine Gate Renewables, said that "this landmark transaction unlocks a new era of partnership and value creation at Pine Gate Renewables as we strive towards our mission to generate The Power of Tomorrow.”

Scott Jacobs, Generate Capital’s CEO and Co-Founder, added that "the new partnership with institutional investors illustrates the value of Generate’s one-stop-shop business model as it opens up new, innovative sources of financing for Pine Gate while providing values- and vision-aligned institutional investors the opportunity to capitalize on the clean energy transition."

Pine Gate officials said that the recent funding will be used to support the company's objective to add a further 3 GW of green power by the end of 2025.