ASHEVILLE – A local renewable energy company has received a over half billion dollar investment to allow the company to expand their services and continue the development, operation and financing of solar energy production and energy storage facilities.
Pine Gate Renewables, based in Asheville, has received a $650 million investment from three investment partners: Generate Capital, the Healthcare of Ontario Pension Plan, and HESTA.
The renewable energy company employs over 300 people and develops and operates “utility scale solar and energy storage projects across the United States,” according to its website. The company headquarters are off Roberts Street in the River Arts District.
Pine Gate Renewables has experienced strong growth since its founding in 2016. Since opening, the company has closed $7 billion in project financing and capital investment while developing and supporting 82 solar and storage projects in North Carolina and 33 states.
Pine Gate Renewables CEO Ben Catt told the Citizen Times the investment comes as the company and solar power industry continues to see strong growth.