SolaREIT Announces New Debt Facility for Solar and Battery Energy Storage System Real Estate Lease Financing

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Sep 09, 2024, 10:45 ET

Repeatable and Scalable Long Term Debt Structure Expands Real Estate Solutions for Developers

VIENNA, Va., Sept. 9, 2024 /PRNewswire/ -- SolaREIT^™, a renewable energy real estate investment company, announced today the successful closing of a long-term facility with MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc. The new debt facility represents a strategic milestone for SolaREIT as the company expands accessibility to real estate lease financing solutions for solar and battery storage (BESS) developers. This facility is repeatable and scalable, allowing SolaREIT to optimize its capital structure and deliver competitive options to developers nationwide. SolaREIT's innovative model provides developers and landowners with competitive financing solutions for solar and BESS project real estate, including land purchases, lease purchases, and land loans.

"This is a significant milestone for SolaREIT. Our debt facility with MIM allows us to rapidly expand our real estate financing solutions to clean energy developers, improving underlying project economics," said Laura Pagliarulo, CEO of SolaREIT. "The solar and BESS markets are growing exponentially, demanding ever-expanding access to real estate financing solutions. Now more than ever, developers need the financial flexibilities that SolaREIT offers."

"This facility represents a strategic step for SolaREIT. We look forward to a sustained partnership with MIM that maximizes the efficiency of our capital structure, allowing us to work with developers to bring more clean energy to the grid," said Laura Klein, Chief Financial Officer of SolaREIT.

Solar and BESS development are increasingly capital-intensive. SolaREIT partners with developers and landowners to provide targeted capital solutions that maximize project profitability. Since its founding in 2020, SolaREIT has provided real estate financing solutions for more than $2.5 billion of solar and BESS projects across the country.

For more information: https://www.solareit.com

About SolaREIT

SolaREIT^™, based in Virginia, is an innovative real estate company focused on delivering financing solutions for solar and battery energy storage developers. SolaREIT, a minority and women-owned business, was founded in 2020 as a Real Estate Investment Trust (REIT) by clean energy industry veterans with a proven track record in finance, project development, real estate, and community solar. The team is passionate about renewable energy and believes that solar and battery energy storage land financing plays a critical role in expanding the clean energy economy.

For more information, please visit www.solareit.com.

SOURCE SolaREIT