Latham Represents Pine Gate Renewables in Successful US$7 Billion Chapter 11 Restructuring

Pine Gate Renewables, LLC, a leading developer and owner-operator of renewable energy projects across the United States with over US$7 billion of funded debt and equity capital, has successfully completed its voluntary Chapter 11 restructuring in the US Bankruptcy Court for the Southern District of Texas.

The restructuring included obtaining more than US$900 million in DIP financing across three separate facilities; consummating five Section 363 sales of the company’s development business, solar project portfolios, and O&M business; obtaining settlements with the Unsecured Creditors’ Committee and other major stakeholders; and consummating a Chapter 11 plan.

Restructuring partners Ray C. Schrock, Andrew M. Parlen, Alex W. Welch, and Jason B. Gott and associates Jonathan C. Gordon and TJ Li led the Latham team representing Pine Gate Renewables in the process, complemented by the firm’s world-class corporate, project finance, tax, regulatory, and litigation teams.