Solar Landscape Closes $600M Debt Facility Led by First Citizens Bank

The facility is supported by 146 megawatts of community solar projects that are currently under construction or in late-stage development across Illinois, New Jersey, Maryland, and Minnesota.

The company will use this funding to support its expanding national pipeline and help the platform meet increasing energy demand across key U.S. markets.

Solar Landscape expects strong demand for new distributed energy capacity as electricity needs rise across the U.S., driven by data centers, electrification, and overall load growth, which is putting pressure on local power grids. The company believes building distributed infrastructure within existing demand centers can provide a faster solution and help avoid delays from expanding transmission systems.

The company also believes its new financing structure better matches the pace of demand by offering a more flexible approach than project-by-project financing, while reducing friction across site development, construction, and long-term operations.

Solar Landscape says distributed energy provides both economic and operational benefits by leveraging existing commercial and industrial rooftops and properties within utility service areas. This approach avoids the need for remote sites and helps reduce transmission limitations.

The company has rapidly expanded this development model to add new capacity directly within existing utility networks, helping lower electricity costs for ratepayers and meeting the needs of customers dealing with rising energy prices.

Solar Landscape says demand from data centers is growing rapidly, and operators now need fast, reliable energy solutions that can be built in months rather than years. It believes that solar paired with battery storage can meet this need at scale while reducing dependence on lengthy, complex grid upgrades.

The company also sees this financing as a sign that distributed energy, especially commercial rooftop solar, is becoming a more scalable and attractive asset class, and it expects more institutional lenders to adopt similar funding structures.

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Solar Landscape works with over 170 commercial real estate owners and utilities across the U.S. to deploy solar and storage projects that can deliver energy capacity within a year. Its vertically integrated model and proprietary technology help accelerate development and improve efficiency throughout project timelines.

The company has completed more than 350 projects totaling over 630 MWdc of generation and continues to grow in major cities and industrial areas under increasing pressure on the power grid.

“This financing marks a meaningful evolution in how we fund and scale distributed energy. As our pipeline has grown, so has the need for a structure that can keep pace. This facility allows us to deploy capital more efficiently across multiple portfolios and markets, increasing the speed at which we can bring new capacity online, " Said Clayton Avent, Chief Financial Officer, Solar Landscape.

“This transaction reflects the continued growth of distributed generation as an asset class. Solar Landscape has developed a scalable, repeatable model for deploying solar power on commercial real estate. This financing structure is well aligned with the company’s ability to execute at speed across multiple markets, " Said Mike Lorusso, Head of Energy Finance, First Citizens Bank.

About Solar Landscape

Founded in 2012 by Shaun Keegan and Corey Gross, Landscape is a leading commercial rooftop solar developer in the U.S., with about 800 MW of solar installed across more than 75 million square feet of rooftops. The company works with major real estate owners to convert unused rooftops into reliable, income-generating assets.

As a vertically integrated firm built by construction professionals, it develops, owns, and operates solar projects nationwide, handling everything in-house—from engineering and permitting to interconnection and operations—allowing partners to expand solar quickly with no upfront capital cost and no disruption to tenants.

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