ASHEVILLE - Pine Gate Renewables, the Asheville-based renewable energy developer and owner-operator that grew rapidly since opening in 2016, has initiated Chapter 11 bankruptcy proceedings and will sell its assets and operations, the company announced Nov. 6.

As one of the leading solar development firms in the U.S., Pine Gate Renewables employs over 300 people in the United States and has closed on approximately $10 billion in project financing and capital investment since it was founded in Asheville, according to its website. It has developed over 100 new solar facilities. The company has more than 30 gigawatts of solar power in development.

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