Pine Gate Renewables filed for Chapter 11 bankruptcy on Thursday, becoming the latest solar firm to do so amid a pullback of US policy support for renewable-energy development.
Major lenders Fundamental Renewables, Brookfield Asset Management Ltd. and Carlyle Group Inc. have agreed to provide $204 million in debtor-in-possession financing, which would be used to fund the bankruptcy and company’s operations, according to a court document. Pine Gate also has $208 million of out-of-court financing.
“In particular, the recently passed ‘One Big Beautiful Bill’ expedited the elimination of the federal investment tax credit for solar projects while also placing extensive ...
