200+ commercial rooftop solar installations — 100+ MW across 8.5M sq ft of C&I rooftops nationwide
Record single-year financing for Solar Landscape across 10 investor/counterparty relationships. $283M green loan led by SVB/First Citizens with KeyBanc and NatBank Canada as co-CLAs. KeyState Renewables committed $184M tax equity for 101 projects. Solar Landscape leased 40M sq ft of commercial rooftop in 2024. Awarded 278 MW under NJ community solar program.
$847M
Deal Value
100MW
Capacity
Solar
Technology
NJ
Location
Deal Details
- Deal Type
- Project Finance
- Seller / Sponsor
- Solar Landscape
- Buyer / Financier
- Silicon Valley Bank (First Citizens Bank), KeyBanc Capital Markets, National Bank of Canada, KeyState Renewables
- Deal Value
- $847M (aggregate 2024)
- Stage
- Under Construction
- ISO/RTO
- PJM
- Source
- Solar Landscape
Capital Structure
$847M
Total transaction value
Tranches
- Green Loan (debt) · Silicon Valley Bank (a division of First Citizens Bank), lead; co-arrangers KeyBanc Capital Markets and National Bank of Canada (green structuring agent)
- $283M
- Tax Equity · KeyState Renewables (coordinating regional banks)
- $184M
Finance Counterparties
Lenders & Capital Providers
- greenLoanLead
- Silicon Valley Bank (First Citizens Bank)
- coordinatingLeadArrangers
- Silicon Valley Bank; KeyBanc Capital Markets; National Bank of Canada
- taxEquityProvider
- KeyState Renewables
- greenLoanAmount
- $283M
- taxEquityAmount
- $184M
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