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

Redeux Energy Partners LLC (Redeux Energy), a leading utility-scale solar and energy storage development company, announced the sale of a 450 MWdc project portfolio to Pine Gate Renewables, a developer and owner-operator of utility-scale solar and energy storage projects across the United States. The portfolio is comprised of three projects located in the MISO South energy market.

MISO is experiencing strong renewables demand 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 utilizing 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 site and develop high-quality, utility-scale solar and battery storage projects to help meet the growing deployment goals of leading Independent Power Producers (IPPs) such as Pine Gate," said Rob Masinter, Chief Executive Officer of Redeux Energy. "This transaction demonstrates that the scale and quality of projects we are delivering aligns with the needs of world-class IPPs as well local landowners and communities."

"Redeux Energy developed turnkey assets that will be competitive additions to our growing MISO pipeline," said Andrew Vietze, Senior Vice President for Mergers and Acquisitions at Pine Gate Renewables. "The Redeux and Marathon teams were a pleasure to work with and we look forward to future business opportunities with both partners."

This is the first transaction from an eleven-project, multi-state 1.7 GWdc portfolio brought to market in late 2023 and represented by Marathon Capital. Redeux Energy plans to bring additional, multi-GW portfolios to market annually, leveraging its systematic development process, robust tool set, and platform led by an exceptional management team. Founded in early 2021 and headquartered in Denver, Colorado, Redeux Energy has a current project pipeline 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 process to raise capital to accelerate its growth.

"This sale is a tremendous milestone for Redeux Energy to achieve, validating both the quality of our projects and the market demand from top tier owner-operators," said William Harrison, CEO of Cathexis Holdings, the company's largest shareholder. "We are thrilled with progress to date and looking forward to continued growth and additional portfolio sales."

"Redeux has capitalized on the rising demand for renewables across the MISO market by using an impressive, structured development process. Redeux is well-positioned for further growth, and we look forward to collaborating on future opportunities," said Sarah Nash, Director for Marathon Capital.

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