John Hancock partners with Pine Gate Renewables for 413 MW solar portfolio in US

Pine Gate Renewables has entered into a partnership with John Hancock to own and manage 413MW across 35 solar facilities in North Carolina, South Carolina, and Oregon, USA.

Pine Gate Renewables–a national utility-scale solar developer, owner, and operator–will continue to operate and provide asset management services for the facilities, while John Hancock is taking an equity interest in the facilities.

The stake was acquired by John Hancock Life Insurance Company and the John Hancock Infrastructure Fund, GP (“JHIF”). JHIF, an infrastructure-focused private equity fund with approximately US$2 billion of committed capital, is managed by the John Hancock Power & Infrastructure team

Terms of the transaction are not being disclosed.