Exhibit 21.1

The direct and indirect subsidiaries of the Registrant, and their respective states of incorporation or organization, are set forth below:

Subsidiary	State of Incorporation or Organization
Pittsburgh & West Virginia Railroad	Pennsylvania
PW Salisbury Solar, LLC	Massachusetts
PW Tulare Solar, LLC	California
PW Regulus Solar, LLC	California
PW CanRE of Colorado Holdings, LLC	Colorado
PW CO CanRE JAB LLC	Colorado
PW PWV Holdings LLC	Colorado
PW CO CanRE Mav 5 LLC	Colorado
PW CO CanRE Mav 14 LLC	Colorado
PW CO CanRE Sherm 6 LLC	Colorado
PW ME CanRE SD LLC	Maine
PW CO CanRE Tam 7 LLC	Colorado
PW CO CanRE Grail LLC	Colorado
PW CO CanRE MF LLC	Colorado
PW CO CanRE Tam 19 LLC	Colorado
PW CO CanRE Apotheke LLC	Colorado
PW CA CanRE Canndescent LLC	California
PW CO CanRE Gas Station LLC	Colorado
PW CO CanRE Cloud Nine LLC	Colorado
PW CO Can RE JKL LLC	Colorado
PW CO CanRE Walsenburg LLC	Colorado
PW CanRE OK Vinita LLC	Oklahoma
PW MI CanRE Marengo LLC	Michigan
PW CanRE Holdings LLC	Delaware
PW MillPro NE LLC	Nebraska