SolaREIT Expands Financing Facility to $80 Million to Accelerate Solar Growth

SolaREIT Expands Financing to $80 Million

SolaREIT™, a prominent entity in the solar and battery storage real estate investment landscape, has recently revealed a significant enhancement of its revolving credit facility. This expansion sees the total credit capacity rise to an impressive $80 million, facilitated through a combined commitment from Atlantic Union Bank and EagleBank.

A Major Confidence Boost

This marks the fourth time in three years that SolaREIT has increased its credit facility, a testament to the strong confidence investors have in its innovative business model and the growing demand for solar land financing solutions. The funds acquired through this facility will play a pivotal role in boosting the operational capabilities of solar and battery energy storage developers, helping them meet the increasing market demand for clean energy.

Laura Pagliarulo, CEO and Co-founder of SolaREIT, expressed her enthusiasm: "We are thrilled to continue our partnerships with Atlantic Union Bank and EagleBank. This expanded facility reflects the financial community's belief in our mission and the critical year ahead for energy developers. With this additional capital, we aim to enhance our support for solar and storage initiatives across the nation, enabling developers to complete projects more swiftly."

The accelerating pace of energy project development underlines the necessity for reliable and adaptable financing options—a need that SolaREIT is aiming to fulfill.

Partners in Growth

John Lester, a senior vice president at Atlantic Union Bank, commented, "The expansion of SolaREIT's credit facility underscores both their exceptional performance and the robust demand for solar and storage land financing. We are proud to support a company that is a leader in promoting clean energy solutions through real estate investment."

Toby Haggerty of EagleBank also acknowledged the partnership, stating, "EagleBank is excited to support SolaREIT as they continue to scale their renewable energy real estate platform, solidifying our commitment to fostering renewable solutions."

Maximizing Land Value

Given the high capital requirements for energy storage and solar projects, SolaREIT collaborates closely with developers and landowners to provide tailored capital solutions that enhance land value. The company's streamlined financing options are designed to offer maximal flexibility based on the financial goals and vision of their clients.

Since its inception, SolaREIT has successfully secured financing for land related to over $5 billion in energy projects, positioning itself as a vital player in the clean energy economy. Their efforts have been instrumental in optimizing the value of real estate assets while facilitating the deployment of clean energy solutions.

About SolaREIT

Established in 2020 and based in Virginia, SolaREIT™ is a forward-thinking renewable energy real estate company committed to delivering financing solutions specifically for solar and battery energy storage developers. As a minority and women-owned business, SolaREIT was founded by veterans of the clean energy sector who possess an extensive background in finance, project development, real estate, and community solar initiatives.

This latest credit facility expansion not only signals a milestone for SolaREIT but also highlights the increasing consensus around the importance of solar and battery energy storage financing in achieving a sustainable energy future. With a focus on expanding their impact, SolaREIT is poised to drive further innovation and acceptance of renewable energy projects throughout the United States.