Fundamental Advisors today announced the launch of MorningSky Power, a renewable energy platform created to develop and operate utility-scale solar and energy storage projects across the United States. MorningSky will be headquartered in Asheville, North Carolina, and operate across 27 states with a portfolio of 117 development projects totaling approximately 20 GW of solar and battery storage capacity.
The platform aims to accelerate late-stage development, permitting, interconnection, and financing for priority projects, leveraging industry partnerships and technical expertise. MorningSky has extended employment and consulting offers to 46 former Pine Gate Renewables team members as part of its launch.
Strategic Portfolio and Transactions
MorningSky’s portfolio was established through an Asset Purchase Agreement with Pine Gate Renewables, LLC, including:
- Acquisition of solar development assets
- Sale of Sunstone Power, a 1.2 GW solar and battery project in eastern Oregon
- Sale of ACT Power, Pine Gate’s Operations and Maintenance business
Fundamental Advisors is expected to receive $88 million in proceeds from these sales.
“The launch of MorningSky reflects our commitment to disciplined, scalable development at a moment when the nation’s power demands are rising faster than new capacity can come online,” said Laurence Gottlieb, Chairman and CEO of Fundamental Advisors. “We look forward to accelerating the development and financing of projects that meet critical energy demand for our partners and communities.”
“With MorningSky, we’ve created a focused platform to advance priority projects through late-stage development and deliver reliable power at scale,” added Jon Saxon, CEO of MorningSky Power. “The sale of Sunstone underscores the quality of assets in this portfolio and strong demand for strategic energy generation across the U.S.”
About MorningSky Power
MorningSky Power is a renewable energy platform developing and operating utility-scale solar and battery storage projects across the U.S. The company’s portfolio includes 20 GW of capacity across more than 100 projects in 27 states.
For more information, visit www.MorningSkyPower.com.
About Fundamental Advisors
Founded in 2007, Fundamental Advisors is an alternative investment manager focused on municipal, public purpose, and community assets. The firm pursues opportunities in essential service sectors including affordable housing, senior care, renewable energy, and non-traditional infrastructure.
For more information, visit www.Fundamental.com.
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