SolaREIT™, a leading real estate investment company focused on solar and battery storage projects, has expanded its revolving credit facility to $60 million. This increase comes through additional support from Atlantic Union Bank and a new partnership with EagleBank. Atlantic Union Bank led the structuring and syndication efforts, serving as the sole book runner and administrative agent for the facility.
This marks the third time SolaREIT has increased its credit facility in less than two years, highlighting the growing confidence in the company’s business model and the rising demand for land financing solutions in the solar and battery storage sectors. The expanded facility provides SolaREIT with additional capital to support solar and energy storage developers, helping to fund projects that accelerate the clean energy transition.
Laura Klein, CFO of SolaREIT, said in a statement, “We’re thrilled to be partnering with Atlantic Union Bank and EagleBank to provide financing solutions to clean energy developers. This expanded facility demonstrates the financial community’s confidence in our business model and team. As the clean energy transition accelerates, developers need reliable, flexible financing solutions. This increased capital allows us to continue scaling our support for solar and storage projects across the country.”
John Lester, SVP and commercial relationship manager at Atlantic Union Bank, stated “This third expansion of SolaREIT’s credit facility demonstrates both their excellent execution and the robust demand for solar and storage land financing. We’re proud to continue growing our partnership with a company that’s helping accelerate clean energy deployment through innovative real estate solutions.”
Toby Haggerty, SVP and C&I relationship manager at EagleBank, mentioned “Eagle Bank recognizes the crucial role that innovative financing plays in advancing clean energy development. SolaREIT’s unique approach to renewable energy real estate financing makes them an ideal partner, and we’re excited to support their continued growth.”
Solar and battery storage development requires significant investment in land, and SolaREIT specializes in providing flexible financial solutions to help developers and landowners maximize the value of their real estate assets. By offering practical, streamlined financing options, SolaREIT ensures developers have the resources they need to bring renewable energy projects to life while landowners can benefit from long-term value creation.
As the demand for clean energy continues to grow, SolaREIT remains committed to supporting the development of solar and battery storage projects with tailored financing options that align with clients’ financial goals and visions for their land. This latest credit facility expansion strengthens SolaREIT’s ability to back projects that drive sustainable energy growth.
