SolaREIT™ announced the expansion of its financing solutions to now include critical land for substations and transmission corridors, in addition to solar and storage generation sites.
Now, developers will be able to secure capital for both generation sites and the associated land needed to interconnect projects to the grid.
The real estate needed for interconnection has become increasingly important as solar and storage development continues to scale throughout the U.S. It’s also a frequently overlooked component of project finance.
Substations and transmission corridors are significant land holdings that have largely remained untapped sources of capital for developers—until now. Through its newly expanded offering, SolaREIT addresses this gap directly.
“Developers are navigating one of the most challenging capital environments in the history of the energy industry, with clean energy lending growth slowing from 22% to just 5.8% year over year,” said Laura Pagliarulo, CEO of SolaREIT, in a statement.
To date, the company has provided real estate financing for more than 3 gigawatts (GW) of clean energy projects valued at over $5 billion. Expanding its financing solutions is a reflection of SolaREIT’s commitment to providing developers with innovative and flexible capital solutions.
Pagliarulo added, “By expanding our financing solutions to include associated infrastructure, we’re giving developers a powerful new tool to unlock capital and keep their projects moving forward.”
Read more here.