Investing in Energy Independence and Security
The Ballast Rock Real Estate Private Credit Fund provides exposure to short-duration lending opportunities to late-stage commercial-scale solar project developments.
About the Fund
Fund Overview
The Ballast Rock Real Estate Private Credit Fund, which is open only to accredited investors, provides loans to small-to medium-sized solar developments in specific attractive US markets. The fund targets projects that are late-stage, i.e., ideally, where most of the early-stage binary development risk items have been completed by the developer. By financing major last-mile pre-development expenses, such as utility interconnection deposits, the fund enables projects to reach construction-ready status, maximizing project value for developers and enabling the fund to generate a return.
This fund is for investors seeking differentiated private credit exposure to energy infrastructure, with a different volatility profile compared to public markets. The fund does not provide regular income distributions, but targets enhanced economics by occupying a priority cash position in the project capital stack with the loan structured to be repaid first when projects monetize — aligning investor returns with the natural exit cycle of solar project development.
The Investment Opportunity
Underserved Capital Gap: Most institutional players target $20M+ projects; we focus on <$5M last-mile
Policy Tailwinds:
Federal incentives (ITC/Section 48) and state programs enhance project economics
Time-Sensitive Demand:
Developers must accelerate starts before July 4, 2026 to qualify for tax credits
Loan Structure:
Origination and disposition fees plus loan interest with structural downside protection
Why Ballast Rock
The Ballast Rock Team
The Fund is led by a seasoned team with decades of combined experience in real estate and infrastructure development, having executed 500+ transactions totaling over $1 billion+ in solar projects specifically.