Atlantic Union Bank has increased its commitment to SolaREIT’s revolving credit facility to $80 million, up from $70 million announced on January 12, 2026. The expansion marks the fourth upsizing of the facility in three years, following earlier increases to $60 million in March 2025, $30 million in February 2024, and $15 million in January 2023, and reflects the growing demand for land‑financing solutions in the solar and battery‑storage sector.
The $80 million line is a syndicated credit facility with EagleBank as the syndication partner. Atlantic Union Bank serves as the sole book runner and administrative agent, providing the administrative infrastructure and fee structure that underpins the credit line. The additional $10 million commitment gives SolaREIT greater flexibility to fund land acquisitions and development projects for solar and storage developers across the United States.
For Atlantic Union Bank, the expansion is a strategic win. The bank’s Q3 2025 results showed $89.2 million in net income and $0.63 in earnings per share, built on a balance sheet of $37.1 billion in assets and $30.7 billion in deposits. The new facility adds fee income and deepens a relationship with a high‑growth renewable‑energy client, aligning with the bank’s broader push into green financing and sustainable real‑estate lending.
SolaREIT, a real‑estate investment trust founded in 2020, specializes in financing land for solar and battery‑storage projects. CEO Laura Pagliarulo said, “This increased capital allows us to continue scaling our support for solar and storage projects across the country as developers look to complete projects on an accelerated timeline.” The facility’s growth mirrors SolaREIT’s rapid expansion and the broader trend of developers seeking flexible, project‑specific financing.
The renewable‑energy finance market is expanding rapidly, driven by government incentives, corporate sustainability goals, and the need for affordable clean energy. The repeated upsizing of the credit line demonstrates Atlantic Union Bank’s confidence in SolaREIT’s business model and the robust demand for land financing in the solar and battery‑storage sectors. John Lester, SVP and commercial relationship manager at Atlantic Union Bank, noted, “The expansion demonstrates both their excellent execution and the robust demand for solar and storage land financing.”
The $80 million facility positions Atlantic Union Bank to capture a larger share of the growing renewable‑energy financing market, while providing SolaREIT with the capital needed to support its expanding portfolio of land acquisitions. The move underscores the bank’s commitment to green finance and signals a continued focus on high‑growth, low‑carbon sectors as part of its long‑term strategy.
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