Redeux Energy Announces Sale of Large-Scale Solar Development Portfolio to Pine Gate Renewables

The 450 MW solar portfolio is made up of three projects located at MISO South

DENVER, June 10, 2024 /PRNewswire/ — Redeux Energy Partners LLC (Redeux Energy), a leading developer of utility-scale solar and energy storage systems, today announced the sale of a portfolio of projects of 450 MWdc to Pine Gate Renewables, a utility developer and owner-operator- expanding solar and energy storage projects across United States. The portfolio is made up of three projects located in the MISO South energy market.

MISO is experiencing strong demand for renewable energy, driven by utility decarbonization goals as well as commercial and industrial load growth. These factors informed Redeux Energy’s MISO South project portfolio, which was developed by the company’s best-in-class development team using a full suite of in-house capabilities. The acquired projects support Pine Gate’s industry-leading operational portfolio and development pipeline.

“Redeux Energy was built to implement and develop large-scale, high-quality solar and battery storage projects to help meet the growing deployment targets of leading independent power producers (IPPs) such as Pine Gate,” said Rob Masinter, Managing Director of Redeux Energy. “This transaction demonstrates that the scale and quality of the projects we deliver meet the needs of world-class IPPs as well as local landowners and communities.

“Redeux Energy has developed turnkey assets that will be competitive additions to our growing MISO pipeline,” said Andrew Vietze, senior vice president of mergers and acquisitions at Pine Gate Renewables. “It was a pleasure working with the Redeux and Marathon teams and we look forward to future business opportunities with both partners.”

This is the first transaction in a portfolio of eleven 1.7 GWdc multi-state projects coming to market in late 2023 and represented by Marathon Capital. Redeux Energy plans to commercialize additional multi-GW portfolios each year, leveraging its systematic development process, robust toolset and platform led by an exceptional management team. Founded in early 2021 and based in Denver, Colorado, Redeux Energy currently has a project portfolio totaling approximately 7 GW and 7 GWh of solar and storage capacity spanning the ERCOT, MISO, SERC and WECC energy markets. Redeux Energy also recently announced a capital raising process to accelerate its growth.

“This sale represents a tremendous milestone for Redeux Energy, validating both the quality of our projects and the market demand from leading owner-operators,” said William Harrison, CEO of Cathexis Holdings, the company’s largest shareholder. “We are pleased with the progress made so far and look forward to continued growth and additional portfolio sales.”

“Redeux has capitalized on the growing demand for renewable energy in the MISO market using an impressive and structured development process. Redeux is well positioned for continued growth and we look forward to collaborating on future opportunities,” said Sarah Nashdirector of Marathon Capital.

ABOUT REDEUX ÉNERGIE:
Redeux Energy is a utility-scale solar and storage development company with expertise in a range of strategies to transform greenfield, mining and industrial lands into renewable energy infrastructure that generates new revenue streams and responds to local economic development and workforce needs. Redeux Energy is powered by exceptional people and processes. Redeux Energy is backed by Cathexis Holdings – a HoustonA single-member, multi-billion dollar family office based on active investments in sectors such as real estate, infrastructure and energy. Thoroughbred Holdings, an investor and co-founder of Redeux Energy, creates and supports investments in world-class infrastructure, energy and natural resources assets. Founded in 2021, Redeux is headquartered in Denver, Colorado. Find out more at www.redeuxenergy.com

ABOUT PINE GATE RENEWABLES
Pine Gate Renewables is a developer and owner-operator of large-scale solar and energy storage projects across United States. Founded in 2016, Pine Gate is dedicated to the innovative deployment of clean energy and has extensive experience in the development, financing, construction and operation of solar and energy storage installations. A trusted partner and industry leader, Pine Gate has closed over 7 billion dollars in project financing and capital investment. Pine Gate’s operational fleet includes more than 100 solar installations representing more than two gigawatts (GW) of installed capacity and has more than 30 GW of projects in development.

ABOUT MARATHON CAPITAL
Over its more than two-decade history, Marathon Capital has grown to become the world’s largest independent advisory bank serving the global sustainable energy, technology and infrastructure markets. Marathon Capital is known as a key thought leader in the global energy transition and is consistently considered the most innovative bank in clean energy. Marathon Capital has been a multiple-year winner of “M&A Advisor of the Year” by Power, Finance & Risk magazine, and was recently awarded “Financial Advisor of the Year – North America (2023)” by IJ Global in 2024. The company has strong and established relationships with strategic and financial institutional investors located across the globe. Marathon Capital is headquartered in Chicago, ILwith offices in new York, Houston, San Francisco, San Diego, Londonas well as representative offices in Calgary, São Paulo, MadridAnd Seoul.

Contact: Megan Hanson, (email protected)

SOURCE Redeux Énergie