Out of masterresource
By Robert Bradley Jr.
“What about the triple-digit number of creditors who bet on a loser? What about the taxpayers who financed around 30 percent of the solar investments? … Ben Catt is just another retiree, a political crony like Sunnova’s John Berger, profiting at the expense of almost everyone else.”
MasterResource has chronicled the rise and fall of major U.S. solar companies this year. The rooftop solar business is in shambles, leading companies like Sunnova are becoming worthless and failing in their long-term projects. And recently, major solar project developers have found themselves in trouble despite a last-minute agreement to continue large tax subsidies until next year.
Add this to the list. As reported in Solar Power World (November 7, 2025):
National solar developer Pine Gate Renewables is filing for Chapter 11 bankruptcy and selling its portfolio of solar and energy storage projects as well as its independent power producer business. These include completed and under-development projects, of which the company says 10 GWDC is in progress.
Founded nine years ago, Pine Gate operates commercial and utility solar businesses in 32 states. With a development of 500 MW in 2022, the company made it to the list of top solar contractors 2023.
No fewer than 119 creditors remain in the lurch. The company’s press release – “Pine Gate Renewables Announces Comprehensive Agreements to Facilitate a Strategic and Value-Maximizing Sales Process” – did not explain why the company failed despite numerous special government favors. Instead, CEO Ben Catt explained:
“Since our founding nearly a decade ago, Pine Gate has grown tremendously and implemented innovative large-scale solar and energy storage projects that enable us to deliver renewable, reliable and affordable energy. To ensure that our projects continue to produce renewable energy, we have made the strategic decision to begin this court-supervised sale process. With significant financial support from some of our current lenders, we are confident that we will successfully execute a competitive sale process that reflects the inherent value of our nationwide portfolio of solar and energy storage projects.
Catt continues:
I am grateful for the hard work and dedication of the Pine Gate team, which has been instrumental in driving the transition to renewable energy. As we move through this process, we remain committed to supporting our valued project partners in our more than 100 operating solar plants and advancing our projects in development and construction.
This is winner talk, not loser talk. What about the three-digit number of creditors who bet on a loser? What about the taxpayers who financed around 30 percent of the solar investments? What if these projects had been sustainable due to consumer demand (e.g. natural gas-fired plants)? Ben Catt is just another rent seeker, a political crony like Sunnova’s John Berger, profiting at the expense of almost everyone else.
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