Solar Landscape, a commercial and industrial rooftop solar developer, secured $847 million in project investment and financing in 2024. The funding will support the deployment of over 200 commercial rooftop solar installations across the U.S.
In 2024, the company partnered with ten investors and financers to raise $847 million in proceeds from debt, equity, and tax equity. It also announced signing contracts for 40 million square feet of additional commercial and industrial rooftop space to develop solar projects, which are expected to generate 500 MW of solar energy.
Solar Landscape received a combined $467 million in project investments from KeyState Renewables and Silicon Valley Bank. Of the $467 million, KeyState Renewables has committed to investing $184 million in tax equity financing to support the operation of 101 solar projects totaling over 100 MW. Silicon Valley Bank led a $283 million green loan for commercial rooftop solar projects.
In October 2024, Walmart announced its investment in 74 Solar Landscape commercial rooftop projects, which are expected to produce nearly 43 MW of energy and are located in Maryland and Illinois.
“The surge in U.S. grid energy demand makes commercial rooftops ideal for solar,” said Shaun Keegan, CEO and Co-Founder of Solar Landscape. “At Solar Landscape, we’ve led the design-build process for these projects since 2012, standing apart by being vertically integrated and forming lasting partnerships with real estate clients. We began as a construction company and we’ve built a reputation for delivering on our promises and fostering genuine relationships with our partners.”
According to Mercom’s 9M and Q3 2024 Solar Funding and M&A report, large-scale project funding in 9M 2024 totaled $34.3 billion in 180 deals, up from $27.5 billion in 169 deals in 9M 2023.
