Mid-sector solar movement: SolaREIT, Nuveen close on $100M solar lease securitization


Solar developers and landowners in the mid-sized / commercial solar sector can always use access to more low-cost capital, and this week solar real estate investment fund SolaREIT closed on a $100 million securitization of solar leases with Nuveen.

SolaREIT’s land financing options, including the “Pre-Paid Solar Land Lease”, allow landowners to receive solar lease payments immediately. Gautam Chandra, Managing Director of SolaREIT, says this investment confirms the strong interest from the largest and most progressive institutional investors in this sector.

“Community and commercial solar is in real need of increased financial options and access to more capital,” he says. “No two projects are exactly the same, and for too long developers and landowners had very limited options in structuring effective solutions.”

SolaREIT’s solutions supported by Nuveen’s financing reduce the cost of solar and free-up developer capital to do more solar projects.

SolaREIT offers opportunities for landowners to monetize their land holdings at better terms than traditional financing. Landowners typically use that capital for expanding their business or purchasing additional farmland. Increased financial flexibility for solar landowners and developers reduces costs, increases investment, and expands the number of landowners open to hosting solar projects.

“The mid-sized and commercial solar sector has been underserved for years but holds tremendous promise,” said Chris Miller, Managing Director at Nuveen. “Increasing capital flexibility into this segment can have a significant impact on the market growth of solar, and ESG focused investments such as SolaREIT can help create value for our clients today and preserve value for tomorrow’s world.”

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