Solar Firm Pine Gate Preparing for Potential Bankruptcy Filing

Pine Gate Renewables is negotiating with lenders over a debt restructuring that may be executed through Chapter 11 bankruptcy proceedings, according to people with knowledge of the matter.

The developer and operator of solar and energy storage projects is seeking rescue financing or a loan that would fund the company through a restructuring in bankruptcy court, said the people, who asked to not be identified discussing a private matter.

“Given recent market and regulatory changes,” discussions remain ongoing with “financing partners,” but no decisions have been made, a spokesperson for Pine Gate said in an emailed statement.

The US solar ...