Power REIT is currently diversified into 3 industries: Controlled Environment Agriculture, Solar Farm Land, and Railroads. Power REIT is actively seeking accretive acquisitions focused primarily on Controlled Environment Agriculture and Alternative Energy
Controlled Environment Agriculture
Power REIT owns two properties in southern Colorado with a total of approximately 19,000 square feet of greenhouse and processing space. The properties are leased to a tenant that is licensed for the production of medical cannabis at the facilities. Both properties are targeting expansion and Power REIT has the option to fund the capital costs related thereto.The greenhouse properties are located in a very favorable plant-growing environment that benefits from over 360 days of sunlight annually and a dry climate.
Solar Farm Land
Power REIT owns approximately 600 acres of land that is leased to over 107 MW of utility scale solar projects. Power REIT’s solar land investments provide highly predictable cash flow with its tenants having invested more than 20 times the cost of our land to build the solar project. In addition, the solar projects have long-term power purchase agreements with investment grade municipalities and/or regulated utilities.
Power REIT’s wholly-owned subsidiary, Pittsburgh & West Virginia Railroad, owns railroad real-estate that is leased to Norfolk Southern Corporation for 99-years, with unlimited renewal options thereafter. The railroad consists of 112 miles of main line road extending from western Pennsylvania through West Virginia to eastern Ohio and approximately 20 miles of branch lines and other associated real estate. P&WV’s railroad real-estate is attractively situated in the Marcellus Shale area of natural gas development.