Pine Gate Renewables, a national utility-scale solar developer, announced the commencement on construction of Bowman Solar. Bowman is a 101-megawatt project spanning 651 acres in Orangeburg County, South Carolina, making it one of the largest solar sites in the state.
Through the teamwork of Pine Gate’s in-house EPC team and its contractors, construction on the 849,840-panel project began in Q2 2019 with commercial operation anticipated for Q1 2020. Financing for Bowman was led by CIT’s Power and Energy group, which arranged the construction and permanent financing facilities, and US Bank, that arranged the tax equity investment. Momentum Energy Advisors assisted Pine Gate Renewables in sourcing, structuring and executing the debt and tax equity financing.
“CIT is pleased to support Pine Gate Renewables by leading the financing needed to advance this significant addition of renewable power generation capacity in South Carolina,” said Mike Lorusso, managing director and group head for CIT’s Power and Energy business.
“Pine Gate is proud to continue our track record of investing in the local communities of South Carolina,” said Ben Catt, CEO for Pine Gate Renewables. “We look forward to being a long-term partner to the citizens of Orangeburg County.”
News item from Pine Gate Renewables