SolaREIT has closed on a revolving credit facility with Atlantic Union Bank (AUB), providing the company with an additional $30 million of liquidity and allowing it to scale the business.
The Virginia-based company provides developers and landowners with capital solutions for solar or battery storage development on their land. It is the second revolving credit facility the partners have closed with AUB, the first being 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,” says Laura Klein, CFO of SolaREIT. “The financing landscape is evolving for solar and BESS developers quickly, and developers need the financial flexibility that SolaREIT can provide. The revolving credit facility with Atlantic Union Bank allows us to continue to expand our offerings to support clean energy projects across the country.”
