Company will increase lively growth with almost 100 companions, together with group solar initiatives throughout 5 main U.S. markets
SAN DIEGO, December 21, 2022–(BUSINESS WIRE)–Luminia accelerated industrial solar and storage adoption in a breakout 12 months for the corporate by processing over $2.5 billion in financing requests throughout the U.S. for solar-plus-storage initiatives averaging over 1 MW, leading to Development Agreements for nearly 200 MWs of business solar initiatives, with an lively growth pipeline of an extra 600 MWs. This contains partaking with dozens of actual property portfolio homeowners, resembling Gables Residential, representing almost 900 million sq. toes of business, industrial, multifamily and hospitality properties.
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Luminia accelerated industrial solar and storage adoption in 2022, having processed over $2.5 billion in financing requests throughout the U.S. (Photo: Business Wire)
In addition to expansions for its superior expertise platform for on-the-spot pricing proposals, instantaneous property prequalification and portfolio evaluation, Luminia additionally expanded its attain in group solar with key companions like New Hampshire Solar Garden.
“Our extensive background in renewable energy, commercial real estate and capital markets has given us a key advantage in delivering solutions that are uniquely suited to complex commercial markets,” stated David Field, CEO and co-founder of Luminia. “By eliminating the financing barriers that once hindered commercial solar progress, we are experiencing explosive demand from our top rated solar partners, especially in the burgeoning community solar space.”
According to the Solar Energy Industry Association (SEIA), 41 states have deployed at the least one group solar mission, with an anticipated 5 GW of capability to be added within the subsequent 5 years. Luminia, which closed on 15 MW of group solar in Maine earlier this 12 months, gives distinctive entry to intermediate and long-term financing, driving down the price of growth for group solar and rooftop portfolio initiatives. With over 600 MW within the pipeline, the corporate can be growing group solar initiatives in 5 key markets, together with Massachusetts, New York, Maine, New Hampshire and New Jersey. Projects differ in dimension and scope to fulfill particular person state and municipal necessities with the pipeline of initiatives having a median system dimension of 9.5 MW.
In 2022, Luminia’s first-of-its-kind financing options catered to industrial property homeowners throughout 36 states with various wants. Luminia options scale from multifamily and industrial REIT portfolios to personal schooling establishments to agricultural farms. Luminia permits property homeowners to achieve entry to a spread of sustainability and asset worth enhancements, resembling electrical car charging infrastructure, or water conservation enhancements, with none out-of-pocket cash down, or company or private ensures, like for this Sacramento farm.
Luminia continues to develop its suite of monetary choices catered particularly to giant industrial portfolio homeowners. “Our team brings decades of experience as owners and lessors of tenant-occupied commercial real estate. Our REIT-friendly financing structures allow landlords to efficiently share the benefits of solar with their tenants, enabling both landlords and tenants to profitably accelerate solar adoption and meet their ESG objectives,” stated Jim Kelly, co-founder of Luminia. “In addition, our strategic focus on community solar provides yet another option for our portfolio clients to monetize their rooftops.”
Luminia’s resolution was additionally lately launched on Energy Toolbase’s ETB Developer platform, which now permits renewable energy builders to rapidly entry Power Purchase Agreement (PPA) quotes and extra financing choices that match their prospects’ wants immediately throughout the ETB platform.
To learn the way solar builders are using Luminia financing to obtain extra enterprise and the way industrial property homeowners are reaching environmental, social, and governance (ESG) objectives whereas rising web working revenue, go to luminia.io.
Founded in 2019, California-based Luminia gives distinctive financing and expertise platform options that allow the deployment of business property sustainability enhancements and group solar initiatives at scale. Through novel financing choices and synthetic intelligence-driven industrial actual property portfolio evaluation, Luminia empowers industrial and industrial property homeowners to implement holistic clear energy and energy effectivity upgrades with out obstacles. Luminia companions with property homeowners, solar builders and portfolio managers to offer purpose-built options that supply the best potential financial profit and advance a property’s potential to fulfill ESG necessities. For extra data, go to luminia.io.
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Christine Bennett for Luminia
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