Pine Gate Renewables, a renewable energy development and finance company, has launched Blue Ridge Power, a new EPC company that will house Pine Gate’s current EPC operations. In connection with the launch, Blue Ridge Power simultaneously acquired the solar division of Horne Brothers Construction, one of the largest mechanical and civil contractors in the U.S.
With the addition of the Horne Brothers team, Blue Ridge Power will be one of the largest independent solar energy EPC companies in the U.S. with full-scale capabilities including engineering, pre-construction, construction and operational management of solar energy assets.
The Blue Ridge Power team will be led by Chris Dunbar, CEO of Blue Ridge Power, and a management team consisting of key members from the Pine Gate EPC team combined with senior leadership at Horne Brothers Construction. Jack and Charles Horne will remain with the company after the acquisition in strategic leadership roles. Following the spinoff, Blue Ridge Power will have a continued partnership with Pine Gate, serving as their exclusive EPC contractor. Pine Gate Renewables expects to construct more than 5 GW of projects over the next three years.
“This strategic shift allows us to serve a broader market and cater to the needs of clients looking for a turnkey project solution,” says Dunbar. “With a completely integrated team we bring a competitive product to the market. We’re excited about the continued growth of the solar industry and the role that Blue Ridge Power will play in the ongoing energy transition for a cleaner planet.”
As a combined entity, Blue Ridge Power has:
- More than 5 GW across an eight-year span of utility construction experience
- 700 MW currently under construction with 2,500 MW forecasted through 2022
- 550+ employees
- Constructed projects in 17 states across the country
Blue Ridge Power will operate from its headquarters in Asheville, N.C., and maintain other offices in Fayetteville, N.C., Charlotte, N.C., and Midland, Mich. The company has a national footprint with more than 370 projects built from Oregon to Massachusetts.
Pine Gate Renewables was represented by Gibson Dunn on the transaction. Truist Securities Inc. served as financial advisor to Horne Brothers Construction and Smith Anderson provided legal representation.
The post Pine Gate Renewables Launches New EPC Business, Blue Ridge Power appeared first on Solar Industry.