Filing Alert: Pine Gate Renewables Chapter 11
Pine Gate Renewables Files Chapter 11 in Southern District of Texas
Update (Nov. 6, 2025): A comprehensive case summary is now available for the Chapter 11 bankruptcy filing of Pine Gate Renewables, LLC.
Pine Gate Renewables, LLC and its debtor affiliates⁽¹⁾, an Asheville, NC-based developer and owner-operator of utility scale solar and energy storage projects, filed for Chapter 11 protection on Nov. 6 in the U.S. Bankruptcy Court for the Southern District of Texas.
The filing is intended to facilitate a §363 sale of substantially all assets, with the company’s operations continuing uninterrupted during the process. The proposed sale structure involves multiple stalking horse bids from the company's existing secured lenders: certain lenders will serve as stalking horse bidders for the specific operating and development projects that secure their respective credit facilities, while a separate secured lender will act as the stalking horse for the company's independent power producer platform and its ~10 GWdc development pipeline. The company states it has secured financing commitments from certain of its current lenders to support operations and the sale process, which it expects to complete in approximately 45 days. The company's O&M provider, ACT Power Services, is not a debtor but is also being marketed for sale.
Pine Gate Renewables reports $1 billion to $10 billion in both assets and liabilities. The filing indicates that there will be funds available for distribution to unsecured creditors. The case number is 25-90669.
⁽¹⁾ For a complete list of debtor entities, see the Chapter 11 Debtors table.
Chapter 11 Debtors
Top Unsecured Claims
Key Parties
Counsel:
- Timothy A. (Tad) Davidson II
Hunton Andrews Kurth LLP
Email: taddavidson@hunton.com
Bankruptcy Co-counsel:
- Latham & Watkins LLP
Financial Advisor / CRO:
- Alvarez & Marsal North America, LLC (Mark Rajcevich)
Investment Banker:
- Lazard Frères & Co. LLC
Signatories:
- Ray Shem – President and Chief Financial Officer
Claims Agent:
Equity Security Holders:
- PGR Holdco, LP – 100% Equity Interest
Bondoro Insights is continuing to monitor this case and will provide further coverage as appropriate.
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