AMERICAS DISTRESS DAILY: Pine Gate Is Latest Solar Firm to File

Pine Gate Renewables filed for Chapter 11 bankruptcy, citing a pullback of US policy support for renewable energy development.

• The company will hold talks with interested parties to transition ownership of its solar and energy storage project fleet.
• Pine Gate had closed more than $7 billion in project financing and capital investment since its founding in 2016.

In Other News:

• A hearing will continue Friday on First Brands’ request to tap roughly $600 million of bankruptcy financing, with the auto-parts company saying it would have to shut down immediately without the funds.
• Oaktree Capital Management urged a bankruptcy judge to ...