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Alternative Assets  + Real Assets  |  May 21, 2025
Solar Landscape Secures $175M Partnership with PGIM Private Capital 
Joe Palmisano
By: Joe Palmisano

Solar Landscape Secures $175M Partnership with PGIM Private Capital 

Asbury Park, NJ-based Solar Landscape, a leading commercial rooftop solar developer, has partnered with PGIM Private Capital in a $175 million long-term institutional shelf debt facility to finance 74 solar projects across Maryland and Illinois. Spanning three million square feet of commercial rooftops, these projects will generate nearly 43 megawatts (DC) of solar capacity, feeding electricity directly into the distributed grid. 

“Commercial rooftop solar is America’s most shovel-ready energy source, and this financing enables us to build more and build it faster,” said Clayton Avent, CFO of Solar Landscape. The partnership builds on Walmart’s tax equity investment in the portfolio, announced in October 2024, with further deployments planned for 2025 and beyond. 

For PGIM Private Capital, the investment aligns with its commitment to clean energy. “By building solar projects on existing commercial buildings, Solar Landscape is deploying energy quickly, efficiently, and close to where it will be used, making it a sound investment in our energy future,” said Ingrida Soldatova, Senior Principal, Real Assets—Power at PGIM Private Capital. 

Over a dozen projects in Maryland have recently been energized, with the remaining portfolio expected to be operational in 2025, enhancing community access to sustainable energy.  

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Solar LandscapePGIM Private Capital

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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