Fundamental Advisors Launches MorningSky Power

New Platform Established to Advance, Develop and Operate a 20 GW Portfolio of Utility-Scale Solar and Battery Storage Projects

NEW YORK, Jan. 30, 2026 /PRNewswire/ -- Fundamental Advisors ("Fundamental"), an established alternative asset manager focused on municipal, public purpose and community assets, today announced the launch of MorningSky Power ("MorningSky" or the "Company"), a renewable energy platform formed to develop and operate utility scale solar and energy storage projects across the U.S.

MorningSky will be headquartered in Asheville, North Carolina, and will operate across 27 states with a portfolio comprising 117 development projects. The newly established company will serve as a developer and owner-operator of utility-scale renewable energy and battery storage projects across the United States, leveraging deep industry partnerships and technical expertise to accelerate the delivery of reliable power capacity. MorningSky currently has approximately 20 GW of solar and battery storage capacity under development and will focus on advancing priority utility-scale projects through late-stage development, permitting, interconnection, and financing. As part of the launch, MorningSky has extended employment and consulting offers to 46 highly capable and experienced members of the former Pine Gate development team.

MorningSky launches with a portfolio of solar development assets acquired through an Asset Purchase Agreement with Pine Gate Renewables, LLC ("Pine Gate'"). In conjunction with the launch, Fundamental also announced the sale by Pine Gate of Sunstone Power ("Sunstone"), a 1.2-gigawatt (GW) solar and battery storage project in eastern Oregon, and ACT Power, Pine Gate's Operations and Maintenance business. In total, Fundamental is expected to receive $88 million in proceeds from the sales. 

"The launch of MorningSky reflects our commitment to disciplined, scalable development at a moment when the nation's power demands are rising at a faster rate than new capacity can come online," said Laurence Gottlieb, Chairman and Chief Executive Officer of Fundamental Advisors. "By creating a focused platform with the expertise and flexibility to develop high-quality, utility-scale projects, Fundamental is positioned to help deliver critical renewable power generation for our partners, communities, and the broader economy. As long-term investors in the renewables space, we look forward to the opportunity to accelerate the development and financing of projects that meet our country's critical energy demand."

"With MorningSky, we've created a focused platform to advance priority projects through late-stage development and deliver reliable power capacity at scale. The sale of Sunstone underscores both the quality of the assets in this portfolio and the strong demand for well-positioned, energy generation assets across the United States," said Jon Saxon, Chief Executive Officer of MorningSky Power. "As power demand reaches unprecedented levels, we expect the buyer pool for strategic solar and renewable assets to continue expanding. Businesses increasingly view the availability and ready supply of ample energy as a competitive advantage and are now moving to secure generation at the source, engaging earlier and more directly in the development and ownership of infrastructure of this scale."

Advisors
Fundamental was advised by Sidley Austin LLP, Berkeley Research Group and Guggenheim Securities, LLC.

About Fundamental Advisors
Founded in 2007, Fundamental Advisors is an established alternative investment manager focused on the development and revitalization of municipal, public purpose and community assets. Through both control-oriented and specialty finance strategies, Fundamental pursues asset-based opportunities across essential service sectors, including affordable housing, senior care, renewable energy, and non-traditional infrastructure.

For more information, please visit www.Fundamental.com.

MorningSky Power
MorningSky Power is a renewable energy platform formed by Fundamental Advisors to develop and operate utility scale solar and energy storage projects across the U.S. The company is currently developing a portfolio of approximately 20 GW of solar and battery storage capacity across over 100 projects in 27 states. For more information, please visit www.MorningSkyPower.com.

Contact:
Madeline Jones / Alexander Wolfsohn
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449
[email protected]

This press release may contain "forward‑looking statements," including statements regarding expected transaction proceeds, development plans, project pipeline, and market conditions. Forward‑looking statements are based on current expectations, estimates, and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. Factors that could cause differences include, among others, completion of post‑closing adjustments, receipt of regulatory and third‑party approvals, development, permitting and interconnection timelines, availability and cost of financing, supply‑chain dynamics, power market conditions, and other risks. Fundamental Advisors undertakes no obligation to update any forward‑looking statements to reflect events or circumstances after the date of this release. This press release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities or interests in any fund or vehicle managed by Fundamental Advisors, nor shall there be any sale of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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SOURCE Fundamental Advisors