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Alternative Assets  + Real Assets  + Real Estate  |  September 6, 2023
SolaREIT, AB CarVal to Invest Up to $250M for Solar, Battery Storage
Joe Palmisano
By: Joe Palmisano

SolaREIT, AB CarVal to Invest Up to $250M for Solar, Battery Storage

SolaREIT, a solar real estate investment fund, and funds managed by AB CarVal, a global alternative investment manager, closed an initial $100 million investment with up to $250 million additional capital, for SolaREIT’s renewable land, lease and loan financing solutions.

Launched in late 2020, Vienna, VA-based SolaREIT provides financing for solar real estate and offers options to compensate landowners for utilizing their land to host solar farms and battery storage projects.

“This partnership with SolaREIT scales solar and battery storage growth by delivering a full suite of financing solutions for developers, project owners and landowners,” said Jerry Keefe, principal with AB CarVal.

AB CarVal has approximately $17 billion in assets under management in corporate securities, loan portfolios, structured credit and hard assets. Since 2017, the firm has invested over $4 billion in clean energy investments, including solar and storage hard assets, private financings, solar loans and solar asset-backed securities.

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SolaREITAB CarVal

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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