PGIM Private Capital Backs Solar Landscape with $175 Million Private Placement to Fund Distributed Rooftop Solar Projects
Solar Landscape, the nation's leading commercial rooftop solar developer, has announced a landmark $175 million long-term partnership with PGIM Private Capital, to finance its growing portfolio of projects that feed electricity directly into the distributed grid, initially across Maryland and Illinois.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250514666070/en/
PGIM Private Capital is the private capital arm of PGIM, the $1.4 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU).
The partnership – in the form of an institutional shelf debt facility – will finance the construction and operations of 74 Solar Landscape projects in Maryland and Illinois on 3 million square feet of commercial rooftops, creating nearly 43 megawatts (DC) of solar capacity for the surrounding communities.
'Commercial rooftop solar is America's most shovel-ready energy source and this financing enables us to build more and build it faster,' said Solar Landscape Chief Financial Officer Clayton Avent. 'This debt investment is another example of PGIM Private Capital's long track record of strong investment into the energy sector. The first wave of these projects is already generating electricity to meet the country's growing demand.'
The transaction marks an important step in Solar Landscape's capital markets evolution and will enable dynamic and efficient deployment of debt capital into the company's best-in-class rooftop community solar projects. The flexibility of the private shelf facility enables Solar Landscape to further expedite development and deployment cycles, generating energy into the distribution-level grid quickly and efficiently.
The shelf financing from PGIM Private Capital complements Walmart's tax equity investment in the portfolio, which Walmart and Solar Landscape announced in October 2024. Subsequent shelf deployments across addressable markets are expected to follow in 2025 and beyond, further entrenching Solar Landscape's status as the nation's preeminent fully-integrated independent power producer focused on deploying solar and energy storage on commercial rooftops.
For PGIM Private Capital, the investment is part of its long-term approach to investment in 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. 'We are always happy to continue adding to our portfolio of investments in the community solar space.'
More than a dozen of the projects in the initial investment portfolio were energized recently in Maryland and the balance of the portfolio is expected to come into service in 2025.
About Solar Landscape
Solar Landscape is the premier commercial rooftop solar developer in the United States, partnering with the world's largest real estate owners to develop, install, and operate solar projects. Recognized as the #1 Distributed Generation Developer of 2023 by New Project Media and awarded the U.S. Department of Energy's Community Solar Grand Prize, Solar Landscape is shaping the future of clean energy. Headquartered in Asbury Park, NJ, the company also has offices in New York City, Chicago, Boston, and Baltimore. Visit www.solarlandscape.com for more information.
About PGIM Private Capital
For nearly 100 years, PGIM Private Capital has been partnering with a wide range of corporations, sponsors, and institutions to provide valuable insights and customized capital solutions that enable them to achieve their growth and funding goals. In an industry where capital can seem like a commodity and relationships are often fleeting and transactional, we strive to build enduring local partnerships based on a steady and patient commitment to our partners' long-term capital needs. With regional teams in 15 offices around the world, we manage a portfolio of $106.6 billion for our partners (as of 12.31.24).
View source version on businesswire.com:https://www.businesswire.com/news/home/20250514666070/en/
Brendon Shank, Solar Landscape, [email protected]
KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS MARYLAND NEW JERSEY
INDUSTRY KEYWORD: COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY FINANCE OTHER ENERGY UTILITIES BANKING PROFESSIONAL SERVICES ALTERNATIVE ENERGY ENERGY
SOURCE: Solar Landscape
Copyright Business Wire 2025.
PUB: 05/15/2025 12:01 PM/DISC: 05/15/2025 12:01 PM
http://www.businesswire.com/news/home/20250514666070/en
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
24 minutes ago
- Yahoo
Why Ecolab Stock Is Sinking Today
Key Points Ecolab's earnings were solid, but fell short of expectations. With its shares priced near perfection, the miss was enough to send its stock price down. Ecolab's water cooling and circular water solutions offer intriguing growth potential, but the company may be more of a steady-Eddie investment than a showstopper. 10 stocks we like better than Ecolab › Shares of leading sustainability juggernaut Ecolab (NYSE: ECL) were down 4% at 11 a.m. ET on Tuesday, according to data provided by S&P Global Market Intelligence. Ecolab reported second-quarter earnings that fell just shy of analysts' expectations, with earnings per share (EPS) just $0.01 short. However, the market's reaction to this miss may have more to do with Ecolab's lofty valuation of 35 times earnings, especially with minimal sales growth at the moment. Can Ecolab live up to its valuation? Ecolab is a leading provider of water management, sanitation, and pest elimination solutions for millions of locations across the globe. The company's offerings range from water cooling at data centers and circular water solutions at electronics manufacturers to infection prevention at hospitals and sanitation and pest control at hotels and restaurant chains. Thanks to these mission-critical applications and the company's importance to its customers, Ecolab is a no-brainer business that aces the "snap test." However, the company has traded at an average price-to-earnings (P/E) ratio of 43 over the last five years, and it has underperformed versus the S&P 500 along the way. Today, Ecolab's earnings were fine. But its stock is priced for near perfection, prompting the move downward. While Ecolab has a lot to live up to with its valuation, its guidance for 12% to 15% adjusted EPS growth in 2025 is encouraging. Furthermore, the company saw double-digit sales growth from its burgeoning water cooling and circular water solutions for its high-tech customers. Ultimately, Ecolab should be an excellent stock for investors seeking stability over the next decade. However, investors desiring multibagger returns may want to look elsewhere, as Ecolab is priced more like a growth stock, though it has grown EPS by only 4% annually over the last decade. Do the experts think Ecolab is a buy right now? The Motley Fool's expert analyst team, drawing on years of investing experience and deep analysis of thousands of stocks, leverages our proprietary Moneyball AI investing database to uncover top opportunities. They've just revealed their to buy now — did Ecolab make the list? When our Stock Advisor analyst team has a stock recommendation, it can pay to listen. After all, Stock Advisor's total average return is up 1,046% vs. just 183% for the S&P — that is beating the market by 863.34%!* Imagine if you were a Stock Advisor member when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $633,452!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,083,392!* The 10 stocks that made the cut could produce monster returns in the coming years. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 29, 2025 Josh Kohn-Lindquist has no position in any of the stocks mentioned. The Motley Fool recommends Ecolab. The Motley Fool has a disclosure policy. Why Ecolab Stock Is Sinking Today was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
GE Vernova (GEV) Downgraded Despite AI Energy Momentum—Here's Why
GE Vernova Inc. (NYSE:) is one of the . On July 28, Guggenheim downgraded GE Vernova (GEV) to 'Neutral' from Buy and removed the firm's previous $600 price target. The firm cited the belief that the stock's valuation 'fully reflects even the substantially above-consensus estimates' the firm is now publishing. 'Valuation is still admittedly attractive if investors are willing to focus on 2029 and beyond, but considering the wait required to get to that outcome, we no longer find GEV attractive from a risk/return standpoint.' The company reported better-than-expected results for the second quarter and raised full-year guidance. Sales of aeroderivative turbines, used in data centers, increased during the quarter. Moreover, backlog growth suggests potential for production may keep expanding beyond 2028. However, a formal announcement on capacity expansion is unlikely before late 2026, noted another firm Mizuho. GE Vernova Inc. (NYSE:GEV) is a global energy company and a soaring AI stock driven by the demand for energy to power artificial intelligence technology. While we acknowledge the potential of GEV as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and Disclosure: None. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
2 hours ago
- Yahoo
GE Vernova (GEV) Downgraded Despite AI Energy Momentum—Here's Why
GE Vernova Inc. (NYSE:) is one of the . On July 28, Guggenheim downgraded GE Vernova (GEV) to 'Neutral' from Buy and removed the firm's previous $600 price target. The firm cited the belief that the stock's valuation 'fully reflects even the substantially above-consensus estimates' the firm is now publishing. 'Valuation is still admittedly attractive if investors are willing to focus on 2029 and beyond, but considering the wait required to get to that outcome, we no longer find GEV attractive from a risk/return standpoint.' The company reported better-than-expected results for the second quarter and raised full-year guidance. Sales of aeroderivative turbines, used in data centers, increased during the quarter. Moreover, backlog growth suggests potential for production may keep expanding beyond 2028. However, a formal announcement on capacity expansion is unlikely before late 2026, noted another firm Mizuho. GE Vernova Inc. (NYSE:GEV) is a global energy company and a soaring AI stock driven by the demand for energy to power artificial intelligence technology. While we acknowledge the potential of GEV as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
