Pine Gate partners with John Hancock to own 413 MW solar facilities
Post date: 08/01/2019 - 21:29
US utility-scale solar developer, owner, and operator Pine Gate Renewables has entered into a partnership with John Hancock to own and manage 413 MW across 35 solar facilities in North Carolina, South Carolina, and Oregon. Pine Gate Renewables will continue to operate and provide asset management services for the facilities, while John Hancock is taking an equity interest in the facilities. Terms of the transaction are not being disclosed.
John Hancock is a division of the international financial services group Manulife Financial Corporation. The stake was acquired by John Hancock Life Insurance Company and the John Hancock Infrastructure Fund, GP (JHIF). JHIF, an infrastructure-focused private equity fund with approximately $2 billion of committed capital, is managed by the John Hancock Power & Infrastructure team.