SolaREIT™, a leading solar and battery storage real estate investment company, announced the expansion of its revolving credit facility to $80 million, supported by an increased commitment from Atlantic Union Bank (NYSE: AUB) and its syndication partner, EagleBank (NASDAQ: EGBN). Atlantic Union Bank serves as the sole book runner and administrative agent for the facility, overseeing structuring and syndication efforts.
This marks the fourth increase of the credit facility in the past three years, reflecting strong confidence in SolaREIT’s business model and the growing demand for financing solutions for solar and battery storage land projects. The expanded facility provides the company with additional capital to meet rising demand from developers, helping them advance clean energy projects while optimizing the value of their real estate assets.
Laura Pagliarulo, CEO and Co-founder of SolaREIT, said, “We’re thrilled to continue our partnerships with Atlantic Union Bank and EagleBank to provide financing solutions to energy storage and solar developers. This expanded facility demonstrates the financial community’s confidence in our business model and team. This is a critical year for developers, and the need for reliable, flexible financing solutions is acute. This increased capital allows us to scale our support for solar and storage projects nationwide, helping developers complete projects on accelerated timelines.”
John Lester, SVP and Commercial Relationship Manager at Atlantic Union Bank, added, “This fourth expansion of SolaREIT’s credit facility demonstrates both their excellent execution and the strong demand for solar and storage land financing. We are proud to continue growing our partnership with a company that is helping accelerate clean energy deployment through innovative real estate solutions.” Toby Haggerty, SVP and C&I Relationship Manager at EagleBank, said, “We are pleased to support SolaREIT as they continue to expand their renewable energy real estate platform. Their established presence and approach in the sector make them a strong partner, and we look forward to continuing to work together.”
SolaREIT focuses on providing practical and flexible real estate financing solutions for developers and landowners involved in solar and energy storage projects. The company’s streamlined approach delivers customized capital solutions that optimize land value and support project development. Since its founding, SolaREIT has financed land for projects totaling over $5 billion, enabling the growth of renewable energy infrastructure across the United States.
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