Solar Landscape and Nuveen Energy Infrastructure Credit Close $117 Million Preferred Tax Equity Investment to Anchor $240 Million Portfolio

NEW YORK & ASBURY PARK, N.J.--(BUSINESS WIRE)--Solar Landscape, the nation’s leading commercial and industrial rooftop solar and storage independent power producer, has announced the closing of a $117 million preferred tax equity investment with Nuveen Energy Infrastructure Credit (Nuveen EIC), marking the second major transaction between the two firms in less than twelve months.

Under the terms of the transaction, Nuveen EIC has committed $117 million to Solar Landscape at close. That commitment will be augmented with an expected $120 million of tax credit transfer proceeds that together with Nuveen’s preferred tax equity investment will support the construction and operation of a 145MW portfolio of community solar assets sited on commercial and industrial rooftops across Maryland, Illinois, New Jersey and Minnesota, reflecting Solar Landscape's continued momentum and market leadership in the distributed generation space.

The investment will span two years of capital deployment for a strategically important subset of Solar Landscape’s project execution and is structured to simplify the monetization of distributed generation tax credits, eliminating the need for traditional tax equity financing and enabling Solar Landscape to deploy capital more efficiently across its growing portfolio of operating assets.

"We’re happy to announce the closing of this important investment to support the continued expansion of new energy generation solutions with our commercial real estate partners in several of our core markets," said Clayton Avent, Chief Financial Officer of Solar Landscape. “We are proud to deepen our relationship with Nuveen, a best-in-class institutional investor, as we scale the deployment of distributed power to deliver new capacity fast to meet rising energy demand across the U.S.”

"We're excited to partner with Solar Landscape for the second time in the past year to provide a preferred tax equity solution that helps maximize value in community solar assets," said Don Dimitrievich, Head of Nuveen Energy Infrastructure Credit. "Our ability to scale capital alongside their growth is helping Solar Landscape continue to deploy community solar assets with market-leading operational excellence. 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. We look forward to continuing our long-term relationship with the team."

This transaction follows Solar Landscape's continued momentum in the front-of-meter commercial and industrial rooftop solar space, with recent wins across multiple state programs and a growing pipeline of commercial real estate partnerships.

About Solar Landscape

Solar Landscape is the nation’s leading distributed energy infrastructure platform transforming commercial real estate into a scalable source of power generation and storage. Partnering with the world’s largest property owners, the company leases underutilized rooftops and develops, builds, owns and operates solar and storage projects at scale, delivering new energy close to demand. Recognized among the fastest growing companies in the U.S. by The Financial Times and ranked #1 commercial solar developer by Solar Power World, Solar Landscape combines deep commercial real estate expertise with fully integrated energy development platform to accelerate deployment at scale.

Headquartered in Asbury Park, New Jersey, with offices in New York City, Chicago, Boston, and Baltimore, Solar Landscape operates with a vertically integrated team across development, engineering, construction and asset management with 350+ projects deployed across 90 million square feet representing over 630MWdc of generation. The company brings the talent, technology and systems required to deliver distributed energy infrastructure at scale.