Solar real estate company SolaREIT to invest US$250 million in … – PV Tech

Solar real estate company SolaREIT and alternative investment manager AB CarVal have closed an investment of up to US$250 million to grow SolaREIT’s renewable land, lease and loan financing solutions.
SolaREIT said the latest investment, initially US$100 million, can expand solar and battery land and lease financing access for developers and landowners. Jerry Keefe, principal at AB CarVal, said this investment will deliver “innovative technologies and projects that are supporting the energy transition while offering solid, long-term return potential”.
“Developers and asset owners are facing a number of challenges in the current financial environment, and need access to capital and other financial solutions that are flexible and nimble,” said Laura Pagliarulo, founder and president of SolaREIT.
SolaREIT was launched in late 2020 and has partnered with developers and landowners across the US to develop projects with a capacity of hundreds of MW. The company also finances solar real estate and offers options to compensate landowners for utilising their land to host solar farms and battery storage projects.
PV Tech reported that investment in the global energy transition totalled US$1.1 trillion in 2022, but the net zero 2050 scenario is still out of reach on the current trajectory. The International Energy Agency estimated that US$4 trillion must be invested annually to reach net-zero emissions by 2050.

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