Pine Gate Renewables Announces New EPC Business, Blue Ridge Power, and Acquisition of Horne Brothers Construction

Blue Ridge Power to become one of the largest independent solar energy
builders in the country

Asheville, NC (May 17, 2021) – Pine Gate Renewables, a leading renewable energy
development and finance company, announced today that it has launched Blue
Ridge Power, a new EPC company that will house Pine Gate’s current EPC
operations. In connection with the launch, Blue Ridge Power simultaneously
acquired the solar division of Horne Brothers Construction, one of the largest and
highest-rated mechanical and civil contractors in the country.
With the addition of the Horne Brothers team, Blue Ridge Power will be one of the
largest independent solar energy EPC companies in the U.S. with full-scale
capabilities including engineering, pre-construction, construction and operational
management of solar energy assets.

The Blue Ridge Power team will be led by CEO Chris Dunbar and a management
team consisting of key members from the Pine Gate EPC team combined with
senior leadership at Horne Brothers Construction. Jack and Charles Horne will
remain with the company after the acquisition in strategic leadership roles.
Following the spinoff, Blue Ridge Power will have a continued partnership with Pine
Gate, serving as their exclusive EPC contractor. Pine Gate Renewables expects to
construct more than 5GW of projects over the next three years.

“This strategic shift allows us to serve a broader market and cater to the needs of
clients looking for a turnkey project solution,” said Chris Dunbar. “With a completely
integrated team we bring a very competitive product to the market. We’re excited
about the continued growth of the solar industry and the role that Blue Ridge Power
will play in the ongoing energy transition for a cleaner planet.”
As a combined entity, Blue Ridge Power has:

• More than 5GW across an 8-year span of utility construction experience
• 700MW currently under construction with 2,500MW forecasted for 2021/2022
• 550+ employees
• Constructed projects in 17 states across the country

“We look forward to a long and prosperous partnership with the team at Blue Ridge
Power to execute our solar construction projects across the country,” said Ben Catt,
CEO of Pine Gate Renewables.

Blue Ridge Power will operate from its headquarters in Asheville, NC, and maintain
other offices in Fayetteville, NC, Charlotte, NC, and Midland, MI. The company has a
national footprint with more than 370 projects built from Oregon to Massachusetts.

Pine Gate Renewables was represented by Gibson Dunn on the transaction. Truist
Securities, Inc. served as financial advisor to Horne Brothers Construction and Smith
Anderson provided legal representation.

About Pine Gate Renewables
Pine Gate Renewables is a leading renewable energy company focused on project
development and strategic financings throughout the United States. It currently
manages 770MW of operational assets, with more than 12GW in active development
and has raised over $2 billion in project capital to date. The company’s Pine Gate
Impact initiative contributes to multiple non-profit organizations aimed at
improving the environment and local communities. Headquartered in Asheville, NC,
Pine Gate Renewables was awarded a top spot on Inc. magazine’s Best Workplaces
list in 2021, named to Fast Company’s Most Innovative Companies list in 2021,
awarded the gold medal in the energy category for Inc.’s Best in Business 2020 list
and ranked #6 on Inc. 500’s list of “Fastest Growing Energy Companies” in 2018. Pine
Gate Renewables works every day to achieve its mission to “Get Solar Done.” For
more information, visit pinegaterenewables.com.

Media Contact:
Tami von Isakovics
Pine Gate Renewables
828-237-1930
[email protected]

Contact

Headquarters
130 Roberts Street, Suite 120
Asheville, NC 28801

1682 Middle River Loop
Fayetteville, NC 28312

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