Pine Gate Files Chapter 11 as Trump Policies Hit Solar Firms (1)

Pine Gate Renewables filed for Chapter 11 bankruptcy on Thursday, becoming the latest solar firm to do so amid a pullback of US policy support for renewable-energy development.

Major lenders Fundamental Renewables, Brookfield Asset Management Ltd. and Carlyle Group Inc. have agreed to provide $204 million in debtor-in-possession financing, which would be used to fund the bankruptcy and company’s operations, according to a court document. Pine Gate also has $208 million of out-of-court financing.

“In particular, the recently passed ‘One Big Beautiful Bill’ expedited the elimination of the federal investment tax credit for solar projects while also placing extensive ...