SAN DIEGO–(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 energetic improvement pipeline of an extra 600 MWs. This contains participating with dozens of actual property portfolio house owners, similar to Gables Residential, representing practically 900 million sq. toes of business, industrial, multifamily and hospitality properties.
In addition to expansions for its superior know-how platform for on-the-spot pricing proposals, prompt property prequalification and portfolio evaluation, Luminia additionally expanded its attain in neighborhood 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,” mentioned 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 a minimum of one neighborhood solar challenge, with an anticipated 5 GW of capability to be added within the subsequent 5 years. Luminia, which closed on 15 MW of neighborhood solar in Maine earlier this 12 months, offers distinctive entry to intermediate and long-term financing, driving down the price of improvement for neighborhood solar and rooftop portfolio initiatives. With over 600 MW within the pipeline, the corporate can also be growing neighborhood solar initiatives in 5 key markets, together with Massachusetts, New York, Maine, New Hampshire and New Jersey. Projects range in measurement and scope to fulfill particular person state and municipal necessities with the pipeline of initiatives having a median system measurement of 9.5 MW.
In 2022, Luminia’s first-of-its-kind financing options catered to industrial property house owners throughout 36 states with numerous wants. Luminia options scale from multifamily and industrial REIT portfolios to non-public schooling establishments to agricultural farms. Luminia permits property house owners to achieve entry to a spread of sustainability and asset worth enhancements, similar to 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 economic choices catered particularly to giant industrial portfolio house owners. “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,” mentioned 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 answer was additionally not too long ago 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 straight throughout the ETB platform.
To find out how solar builders are using Luminia financing to acquire extra enterprise and the way industrial property house owners are attaining environmental, social, and governance (ESG) objectives whereas growing internet working earnings, go to luminia.io.
About Luminia
Founded in 2019, California-based Luminia offers distinctive financing and know-how platform options that allow the deployment of business property sustainability enhancements and neighborhood solar initiatives at scale. Through novel financing choices and synthetic intelligence-driven industrial actual property portfolio evaluation, Luminia empowers industrial and industrial property house owners to implement holistic clear energy and energy effectivity upgrades with out boundaries. Luminia companions with property house owners, solar builders and portfolio managers to supply purpose-built options that supply the best potential financial profit and advance a property’s potential to fulfill ESG necessities. For extra info, go to luminia.io.
