SolaREIT Finalizes Acquisition of Land for 39MW Solar Project in Pennsylvania

SolaREIT Completes Land Purchase for a Major Solar Initiative in Pennsylvania

SolaREIT™, recognized as a leader in solar and battery storage real estate investments, has announced a significant milestone. The firm has completed a land acquisition that will support a robust 39-megawatt AC solar project in Pennsylvania, developed by Solops®, a portfolio company under Denham Capital.

This project marks another significant achievement for Solops, known for its extensive experience in photovoltaic solar project development across the commercial and industrial sectors. With over 3 gigawatts (GW) of projects developed throughout 30 states and more than $2.1 billion in funded projects, the company has established a formidable reputation in the renewable energy sector.

The completion of the transaction in under 45 days has provided Solops with a strategic financial edge, allowing them to utilize the land's acquisition proceeds as a lower-cost alternative to traditional development capital for upcoming projects in their pipeline. "Access to affordable capital at the right time can dictate a solar project's success," said Laura Pagliarulo, the CEO of SolaREIT. This financing solution not only sustains developers’ momentum but also accelerates project timelines, ensuring that more renewable energy initiatives can come online swiftly.

Matt Rosenblum, CEO of Solops, echoed similar sentiments, stating, "I have participated in numerous dealings throughout my career, and this land acquisition transaction has been one of the most seamless and professionally managed experiences for me. SolaREIT's efficient approach and comprehension of developer priorities enabled us to remain focused and on schedule with this project. Not only does this land acquisition support our advancing projects but also facilitates the allocation of our capital towards other initiatives in the pipeline."

SolaREIT's innovative financial solutions assist developers and project owners in monetizing land value, freeing up capital, and decreasing lease expenses. Besides land acquisitions, they offer various financial products such as lease purchases and financing for solar and storage land projects across all 50 states.

Founded in 2020 and operating as a Real Estate Investment Trust (REIT), SolaREIT is distinguished by its minority and woman-owned status. The company was established by seasoned professionals from the clean energy sector and is committed to promoting renewable energy through accessible financing solutions for solar and battery storage initiatives.

With Solops having a profound footprint in the commercial and industrial photovoltaic landscape, the partnership with SolaREIT allows both entities to leverage their expertise effectively. The potential impact of this collaboration extends beyond financial benefits; it embodies a collective ambition toward a sustainable and clean energy future, establishing Pennsylvania as a tangible site for advancement in renewable resources.

As the clean energy economy evolves, initiatives like this underscore the vital role of financing in realizing solar projects. By focusing on real estate solutions tailored for the energy sector, SolaREIT and Solops are paving the way for innovative approaches to energy production, ultimately benefitting communities and contributing to the alleviation of environmental challenges.

In addition to its primary offerings, SolaREIT is committed to fostering relationships with other developers and stakeholders, ensuring a cohesive movement towards sustainable energy practices. For further details on their products and initiatives, visit SolaREIT's official website.