Pine Gate Renewables Secures Credit of $500-Million To expand its Solar Facility in US

The solar energy project developer ‘Pine Gate Renewables’ has now secured a credit of 500 million dollars facility form the company ‘Fundamental Renewables’ for the purpose of financing the construction and development of the utility-scale storage and solar energy projects across the United States of America.

Pine Gate Renewables has been planning to utilize the capital from the facility for the purpose of diversifying the storage and solar energy projects in the United States, and previously, the company has also received the finance for building 56 megawatts of the solar energy projects, which are under development in the region of Michigan from the Irradiant Partners, which has been a manager in the alternative investment.

The amount of the funding, which is secured for the solar energy project had not been disclosed, and the solar energy projects had not been revealed, and the projects are also scheduled for being commissioned by the year 2022, and the Pine Gate Renewables and the Irradiant Partners have been developing more than 400 megawatts of the solar energy projects in the region of Michigan through the contacts with the company ‘Consumer Energy’.

Pine Gate Renewables has also partnered with the United Natural Foods, Inc. (UNFI), which has been the food wholesaler of North America, which has been a 108.5 megawatt of the solar energy project in the Jones County in the region of North Carolina. The company has also closed the financing of a 9 megawatts storage and solar energy project, which is located in the region of Massachusetts, US.