SolaREIT Surpasses 2000 Acres of Community Solar Land Financing

Source: www.gulfoilandgas.com 6/12/2024, Location: North America

SolaREIT™, a solar and storage real estate investment company, has reached a significant milestone by surpassing 2,000 acres of community solar land financed through its flexible capital solutions. SolaREIT's simple, streamlined options for financing solar and storage land and leases deliver maximum value and flexibility based on clients' individual needs, financial goals, and vision for their land. This milestone represents the real estate under $1B of community solar projects, or 70 projects across nine states. SolaREIT, founded in 2020, has partnered with solar and battery storage developers to finance the land or leases for more than $2.5B of solar and battery storage projects across the country.

"Aside from putting solar onto rooftops, community solar is the next best option to provide consumers with local and affordable renewable energy. A strategic priority at SolaREIT is to work with community solar developers to bring more distributed generation power to the grid. Our land purchase, lease purchase, and land loan offer developers simple and accretive ways to finance the real estate under their projects," said Laura Pagliarulo, CEO of SolaREIT.

The Department of Energy (DOE) has set an ambitious target to increase community solar capacity to serve 5 million households by 2025, generating $1 billion in energy bill savings and significantly contributing to the Biden administration's goal of achieving 100% clean electricity by 2035.

To address the capital intensity of solar and battery energy storage projects, SolaREIT partners with developers, offering financing options for land and lease acquisition. The company's three primary products—land purchases, lease purchases, and solar and storage land loans—are available in all 50 states, providing flexible financial solutions to support the expansion of solar and BESS projects.


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