Nuveen Anchors $240M Portfolio Backing Solar Landscape

Nuveen Energy Infrastructure Credit (EIC) has anchored a $240 million portfolio supporting Solar Landscape, deepening its push into distributed generation through preferred tax equity investments. 

Nuveen committed $117 million in preferred tax equity, its second transaction with Solar Landscape in under a year. The investment will be paired with approximately $120 million in expected tax credit transfer proceeds to fund the construction and operation of a 145MW portfolio of community solar projects. The assets are located on commercial and industrial rooftops across Maryland, Illinois, New Jersey and Minnesota. 

“For Nuveen EIC, preferred tax equity is a strategic priority, and this investment reflects the firm’s disciplined approach of supporting high-quality distributed generation assets managed by best-in-class operators,” said Don Dimitrievich, head of Nuveen Energy Infrastructure Credit. 

Solar Landscape, headquartered in Asbury Park, N.J., operates a vertically integrated platform spanning development, engineering, construction and asset management. The firm has deployed more than 350 projects across 90 million square feet, representing over 630MWdc of generation capacity. 

The transaction aligns with Nuveen’s broader expansion in energy infrastructure credit. The firm’s Energy & Power Infrastructure Credit strategy reached a $1.3 billion first close last year, backed by a leading Canadian pension fund manager and TIAA, and is targeting $2.5 billion. 

Nuveen has also launched a dedicated global infrastructure platform to scale its $36 billion presence in the asset class, appointing Jessica Bailey, former CEO of Nuveen Green Capital, to lead the effort as head of Global Infrastructure.