SolaREIT , the leading solar and battery storage real estate investment company, today (Feb 11) announced the completion of a land purchase supporting a 39-megawatt AC solar project in Pennsylvania for Solops®, a Denham Capital portfolio company. Solops, an Independent Power Producer of photovoltaic solar projects in the commercial and industrial sectors (C&I), has developed more than 3GW of projects across 30 states and $2.1 billion in financing. The transaction, which closed in under 45 days, enables Solops to leverage the proceeds of the land purchase as a lower-cost alternative to traditional development capital for other projects in their pipeline.
"Access to affordable capital at the right time can determine a solar project's success," said Laura Pagliarulo, CEO of SolaREIT. "Our real estate financing solutions help developers maintain their momentum and bring more projects online. Working with experienced developers like Solops, who bring deep expertise and a track record of successful execution, makes this process even more efficient."
"I have been involved in many deals in my career. This was one of the smoothest and most professional transactions that I have been involved with," said Matt Rosenblum, CEO of Solops. "SolaREIT's streamlined approach and understanding of developer priorities enabled us to keep our project on track. This land acquisition not only supports our progress but also allows us to allocate capital to other projects in our pipeline."
SolaREIT provides financial solutions to developers and project owners that allow them to monetize land and lease value, free up capital, and reduce lease costs. In addition to land purchases, SolaREIT offers lease purchases, and solar and storage land loans, in all 50 states.
For more information, visit 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.
About Solops
Founded in 2010, Solops® is a premier developer, financier, and owner/operator of photovoltaic solar projects in the commercial and industrial sectors (C&I) throughout the United States. The Solops team has collectively developed over 3GW of projects in the C&I sector across 29 states and closed on financings in excess of $2.1bn. The Company has established relationships and strategic partnerships with industry leading solar integration companies, developers, engineering firms, brokerage houses, private equity funds, hedge funds, large investment banks, and regional lending institutions.
