HOUSTON, Dec. 19, 2023 /PRNewswire/ — Renewa, a leading land and infrastructure investor, today announced the successful closing of a sale lease-back (SLB) transaction with Leeward Renewable Energy (“LRE”), for the White Wing Ranch Solar project in Maricopa County, Arizona.
This deal supports the continued growth of LRE’s project pipeline, while allowing the company to maintain long-term site control for the construction and operation of the project.
“The LRE transaction is just one of the several sale-leasebacks we’ve closed on in the past year,” said Gage Mooring, Renewa Co-Founder and Co-CEO. “Despite capital markets tightening, Renewa remains determined to continue partnering with developers and providing necessary capital to help move projects and add value.”
The White Wing Ranch Solar partnership with LRE is just another step in Renewa’s broader mission to accelerate the renewable energy transition in the United States via its role as a capital and land partner to renewable developers, owners, and operators.
“We have a mission to acquire land and help finance the transition to renewable energy,” added Stephen Lee, Renewa Co-Founder and Co-CEO. “We are continuing to actively underwrite deals on land under every piece of the energy transition, from solar projects to transmission lines to battery storage.”
Renewa has a presence in over 30GW of renewable projects nationwide, encompassing more than 30,000 acres of rural and urban land in 26 states. Renewa’s portfolio encompasses over 150 projects operated by over 50 top-tier partners.
Renewa is a renewable energy land financing company providing financing solutions to landowners and renewable energy project developers through the acquisition of leasehold interests, land, rental streams, and royalty incomes. Renewa is backed by QIC, channeling long-term capital to fund renewable energy projects with local partners and landowners. For more information, please visit: www.renewa.com.
Originally published at https://www.prnewswire.com/news-releases/renewa-secures-sale-leaseback-transaction-with-leeward-renewable-energy-for-the-white-wing-ranch-solar-project-302018291.html
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