About Power REIT
Power REIT (NYSE MKT:PW) is a real-estate investment trust (REIT) focused on providing long-term real estate solutions to energy and transportation infrastructure asset owners and developers. Power REIT believes there are significant opportunities to provide capital and monetize real estate assets through the acquisition of land, leasehold interests and other real-estate infrastructure.
|Solar Land. Power REIT owns fee simple land underlying one of the largest operational solar farms in New England. The 5.7MW solar farm achieved commercial operations in the summer of 2012 and has long-term revenue contracts with local municipalities. The long-term lease agreement with the solar farm provides Power REIT with a steady source of cash-flow. The solar farm is expected to generate approximately 6,700,000 kwh a year and serve the needs of 1,000 homes.|
Railroad Property. 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 renewal options thereafter. The railroad consists of 112 miles of main line road extending from Pittsburgh Junction, Ohio, through parts of West Virginia, to Connellsville, Pennsylvania 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.