Solar Landscape Closes Oversubscribed $125 Million Revolving Credit Facility Led by M&T Bank
Expanded working capital facility strengthens development pipeline and accelerates deployment of distributed energy infrastructure
Solar Landscape, the nation's leading platform for distributed energy infrastructure built on commercial real estate, today announced the closing of an oversubscribed $125 million revolving credit facility led by M&T Bank (NYSE:MTB), with participation from Flagstar Bank, Atlantic Union Bank, and Valley Bank.
The facility expands an existing relationship between Solar Landscape and M&T Bank, which originally provided the company's revolving working capital line. As Solar Landscape's project pipeline and development activity continued to grow, M&T Bank successfully syndicated the facility, increasing available capital to support the company's accelerating development efforts across its core markets.
The revolving credit facility provides flexible working capital that supports project throughput and execution across Solar Landscape’s growing development pipeline. By funding critical development activities, the facility enables projects to advance more efficiently from origination to construction readiness while maintaining capital deployment across its portfolio.
The company’s efficient funding structure helps to accelerate the deployment of distributed energy infrastructure at a time when electricity demand is growing rapidly nationwide, supporting Solar Landscape’s ability to bring front-of-the-meter solar and storage projects online faster while continuing to scale across the country.
"Speed-to-power has become one of the defining challenges facing the energy industry," said Clayton Avent, Chief Financial Officer of Solar Landscape. "This partnership, led by M&T Bank, is an important piece of our ability to enable our scale and increase throughput in our core markets. The facility strengthens our development platform, supports predictable execution across our pipeline, and allows us to bring new megawatts online faster at a time when demand for electricity continues to accelerate."
The financing complements Solar Landscape's broader capital strategy and existing project financing facilities, creating a comprehensive funding structure that supports projects from early-stage development through construction and operation.
"Solar Landscape has established itself as a leader in distributed energy infrastructure through its ability to consistently execute at scale," said Brian Clark, Head of Commercial Banking, New Jersey at M&T Bank. "We are proud to lead this financing and support the company's continued growth as it delivers critical energy infrastructure to communities across the country."
The expanded facility further strengthens Solar Landscape's ability to advance a growing pipeline of distributed energy projects while maintaining the operational flexibility required to meet increasing demand from commercial real estate owners, utilities, and energy consumers. The financing also supports the company’s continued year-over-year EBITDA growth by providing efficient access to development capital that accelerates project execution and deployment.
About Solar Landscape
Solar Landscape is the nation’s leading distributed energy infrastructure company, transforming commercial real estate into a source of new power by deploying solar and storage at scale. Partnering with more than 170+ commercial real estate owners and utilities, the company develops, builds, owns, and operates distributed energy projects that deliver new capacity to the grid in as little as 12 months while generating long-term income for commercial and industrial property owners.
Recognized by the Financial Times as one of the fastest-growing companies in the U.S. and ranked the #1 commercial rooftop solar developer by Solar Power World, Solar Landscape combines real estate expertise with proprietary technology and vertically integrated execution to deploy infrastructure with speed and certainty.
Headquartered in Asbury Park, New Jersey, with offices in New York City, Chicago, and Baltimore, the company has deployed more than 500 projects representing over 750 MWdc of generation.
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For inquiries: media@solarlandscape.com