Executive Moves: Sol-REIT Names Derek Gabriel Sr. as Executive Vice President & Head of Originations
Derek Gabriel Sr. has been appointed Executive Vice President & Head of Originations of Sol-REIT. Gabriel most recently served as V.P. of Renewable Energy Lending and Business Development at National Cooperative Bank, N.A., where he managed residential, commercial and utility scale solar business development of over $500 million in assets nationwide. He brings 15 years of experience in solar development, origination, solar policy implementation, tax-equity structures, and debt-financing to the Sol-REIT team. A graduate of Xavier University, Derek's experience additionally includes policy work, as he has co-authored and pioneered solar farm zoning laws in the Southeast to build one of the region's largest solar facilities.
In his role as Head of Originations, Gabriel will serve as a strategic business partner responsible for cultivating solar developer and EPC (Engineering Procurement and Construction) relationships and expediting oan origination and closure.
"We're very pleased to enhance our senior management team with the addition of an executive with a proven track record of supporting solar developers and EPCs with the financial products they need to achieve their work and ultimately the transition to a clean energy economy," stated Sol-REIT CEO Mark Settles. "He joins at an opportune time as our pipeline has been growing from inquiries that may have previously been serviced by commercial banks that are facing credit constraints," he continued.
Sol-REIT revolutionizes clean energy financing by providing innovative construction-to-permanent loans for middle-market solar developments across North America. By financing solar similarly to real estate, Sol-REIT offers flexible financing for solar projects that matches the asset's operational life while empowering solar developer entrepreneurs to become long-term owners of their own projects. Sol-REIT currently finances individual solar projects with an average loan size of $5 million to $50 million. For more information, visit https://www.sol-reit.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20230526005026/en/