One of the Largest Solar Projects in North Carolina Will Generate 191,000 MWh of Clean Energy Each Year
VIENNA, Va., Jan. 27, 2025 /PRNewswire/ — SolaREIT™, the leading solar and battery energy storage real estate investment company, announced today the closing of a land purchase for Headwater Energy’s 112-megawatt DC solar project in North Carolina. Headwater Energy, a prominent utility-scale solar developer formed by solar industry veterans, worked closely with SolaREIT to ensure a smooth and efficient transaction. The project, Gum Swamp Solar, will generate clean energy to power the equivalent of 17,000 North Carolina households annually, marking a significant expansion of solar energy capacity in the state.
“Developers need reliable, efficient partners who can execute transactions quickly and with minimal friction,” said Laura Pagliarulo, CEO and co-founder of SolaREIT. “We’re excited to work with Headwater Energy as their team has an outstanding track record of success in building high-quality solar assets. In a wait-and-see market, SolaREIT provides developers with reliable financing for real estate that removes variables from their cost of capital equation.”
“Working with SolaREIT has proven to be a tremendous advantage for the profitability of this project,” said Michael Cohen, CEO of Headwater Energy. “Their team clearly understands the demands of solar development, delivering the kind of execution and efficiency that’s vital in today’s market. By handling the land acquisition smoothly, they enabled us to maintain our development schedule and focus our resources on building this significant clean energy resource for North Carolina residents and businesses.”
The Gum Swamp Solar project demonstrates how strategic land acquisitions can accelerate solar development. By purchasing the project land, SolaREIT enables developers to redirect capital to cover other critical expenses for projects in their pipeline. This approach is particularly valuable in today’s market, where reliable and efficient capital deployment is crucial for project and pipeline success.
SolaREIT provides financial solutions to developers and project owners that allow them to monetize land and lease value, free up capital, and reduce lease costs. In addition to land purchases, SolaREIT provides lease purchases, and solar and storage land loans, in all 50 states.
For more information, visit https://www.solareit.com
About SolaREIT™
SolaREIT™, based in Virginia, is an innovative real estate company focused on delivering financing solutions for solar and battery energy storage developers. SolaREIT, a minority and women-owned business, was founded in 2020 as a Real Estate Investment Trust (REIT) by clean energy industry veterans with a proven track record in finance, project development, real estate, and community solar. The team is passionate about renewable energy and believes that solar and battery energy storage land financing plays a critical role in expanding the clean energy economy.
About Headwater Energy
Headwater Energy is a leading force in America’s renewable energy transition, with over 2GW of active solar development and a substantial portfolio of operating solar projects. Our mission is driven by a relentless commitment to advancing renewable energy through expertise, integrity, and a results-focused approach. Our team of seasoned industry veterans and passionate professionals brings a no-nonsense, zero-ego attitude to every project, transforming innovative ideas into impactful renewable energy solutions that serve our partners and every community that we work in.
SOURCE SolaREIT