Nofar USA, a global renewable energy developer, has been designated the successful bidder, subject to bankruptcy court approval. The designation relates to the acquisition of a nearly 1 GW utility-scale solar portfolio developed by Pine Gate Renewables through a court-supervised Chapter 11 Section 363 process. The proposed transaction covers nine solar projects located in Alabama, North Carolina, South Carolina, and Texas. The agreed purchase price is $285 million, alongside the assumption of $260 million in existing project-level debt and about $30 million in additional costs. This structure implies an enterprise value of roughly $575 million. The portfolio includes around 650 MW (DC) already in operation. It also contains 100 MW (DC) in advanced construction. A further 225 MW (DC) is in early construction and is expected to reach commercial operation during 2027. All projects are contracted under long-term power purchase agreements. The assets are geographically diversified across the Southeastern United States and ERCOT markets. The transaction is under review by the US Bankruptcy Court, with a hearing scheduled for January 5. It also remains subject to court, FERC, governmental, lender and tax-equity approvals.