Redeux Energy Partners LLC (Redeux Energy), a developer of utility-scale solar and energy storage, has announced the sale of a 450 MWdc project portfolio to Pine Gate Renewables, a leading developer and owner-operator of utility-scale solar and storage projects across the U.S.
Portfolio Features Three Solar Projects in MISO South
The solar portfolio includes three projects in the MISO South energy market, where demand for renewable energy is on the rise. This growing demand, driven by utility decarbonization goals and increasing commercial and industrial loads, prompted Redeux Energy to develop the portfolio, drawing on its top-tier development team and comprehensive in-house capabilities.
Solar panels in the MISO South, addressing rising renewable energy demand.
Rob Masinter, Chief Executive Officer of Redeux Energy, said, “Redeux Energy was established to site and develop high-quality utility-scale solar and battery storage projects, helping meet the growing deployment goals of leading Independent Power Producers (IPPs) like Pine Gate. This transaction demonstrates that the scale and quality of the projects we deliver align with the requirements of both leading IPPs globally and local landowners and communities.”
Andrew Vietze, Pine Gate Renewables’ Senior Vice President for Mergers and Acquisitions, added, “Redeux Energy developed turnkey assets that will be competitive additions to our growing MISO pipeline. The Redeux and Marathon teams were a pleasure to work with, and we look forward to future business opportunities with both partners.”
Acquisition Expands Pine Gate Renewables’ Development Pipeline
The acquired projects will support Pine Gate’s industry-leading operational portfolio and development pipeline. Established in 2016, Pine Gate Renewables is a developer and owner-operator of utility-scale solar and energy storage projects nationwide. The company has significant expertise in developing, financing, constructing, and operating these facilities. A respected industry leader, Pine Gate manages a portfolio of over 100 operational solar facilities—totaling more than two gigawatts (GW) of installed capacity—with an additional 30 GW in various stages of development.
First Deal From a 1.7 GWdc Portfolio
This transaction is the first from an eleven-project, multi-state 1.7 GWdc portfolio that Marathon Capital introduced to the market in late 2023. Redeux Energy plans to unveil additional multi-gigawatt portfolios annually, building on its systematic development approach, robust toolkit, and leadership team. Headquartered in Denver, Colorado, Redeux Energy has built a project pipeline of approximately 7 GW and 7 GWh of solar and storage capacity across the ERCOT, MISO, SERC, and WECC energy markets since its establishment in early 2021. The company also recently announced plans to raise capital to accelerate its expansion.
“This sale represents a significant milestone for Redeux Energy, validating the quality of our projects and the market demand from premier owner-operators. We are excited about our achievements so far and look forward to continued growth and future portfolio sales,” stated William Harrison, CEO of Cathexis Holdings, the company’s primary shareholder.
Sarah Nash, a Director at Marathon Capital, said, “Redeux has used an impressive, structured development process to meet the rising demand for renewables within the MISO market. The company is well-positioned for continued growth, and we see exciting opportunities for future collaboration.”
This successful transaction underscores the market’s recognition of Redeux Energy’s project quality and signals the company’s potential for continued growth, which it plans to fuel through future portfolio sales and capital-raising initiatives.