SolaREIT, a renewable energy real estate investment company, closed on a revolving credit facility with Atlantic Union Bank that provides $30 million of liquidity to allow SolaREIT to continue to scale its business and expand financing solutions for solar and storage developers. The facility marks the second between SolaREIT and Atlantic Union Bank, with the first a $15 million facility announced last year.
“We’re thrilled to partner with Atlantic Union Bank again to provide financing solutions to clean energy developers. The financing landscape is evolving for solar and [battery energy storage solution] developers quickly, and developers need the financial flexibility that SolaREIT can provide,” Laura Klein, CFO of SolaREIT, said. “The revolving credit facility with Atlantic Union Bank allows us to continue to expand our offerings to support clean energy projects across the country.”
“Atlantic Union Bank is committed to providing our clients with solutions that provide the flexibility they need to grow their business. The transformation to clean energy is our collective responsibility, and our partnership with SolaREIT will ensure more clean energy projects are funded efficiently,” John Lester, commercial relationship manager at Atlantic Union Bank, said.
