SolaREIT Expands Revolving Credit Facility to $60 Million with Atlantic Union Bank and EagleBank

Core Viewpoint - SolaREIT has expanded its revolving credit facility to $60 million, marking the third increase in less than two years, indicating strong market confidence in its business model and the growing demand for solar and storage land financing solutions [1][2]. Company Overview - SolaREIT is a renewable energy real estate investment company based in Virginia, focused on providing financing solutions for solar and battery energy storage developers. It was founded in 2020 and is a minority and women-owned business [4]. Financial Expansion - The recent expansion of the credit facility was facilitated by Atlantic Union Bank and EagleBank, reflecting the financial community's confidence in SolaREIT's business model and its ability to support clean energy projects [2][3]. - The facility provides SolaREIT with additional capital to meet the increasing demand from solar and battery energy storage developers, allowing the company to scale its support for projects across the country [2][3]. Market Demand - There is a robust demand for solar and storage land financing, as highlighted by the third upsize of SolaREIT's credit facility, which demonstrates the company's excellent execution in the market [2][3]. - SolaREIT's innovative financing solutions help developers and landowners maximize the value of their real estate assets while advancing clean energy deployment [2][3]. Partnerships - The partnership with Atlantic Union Bank and EagleBank is crucial for providing flexible financing solutions to clean energy developers, which is essential as the clean energy transition accelerates [3].