HASI Boosts Clean Energy Investment, Backs Summit Ridge's 250MW Solar Expansion
HASI, a leading clean energy investor, has announced a significant expansion of its partnership with Summit Ridge Energy. This move will see HASI provide financing support for Summit Ridge's growing pipeline of community solar projects across Illinois and Maryland over the next two years. The deal comes as HASI's managed clean energy assets reach a milestone of $10 billion.
The expanded portfolio, once complete, is expected to reduce carbon dioxide emissions by over 51,000 metric tons annually. This will be achieved through the development of a 250-MW community solar portfolio, set to supply clean energy and provide energy savings to residential and small commercial customers.
The partnership has already supported the development of a 255-MW solar energy portfolio, strengthening Summit Ridge Energy's leading solar market position in the two states. This latest transaction doubles the size of an existing joint venture between HASI and Summit Ridge Energy, which was first announced in 2019.
Steve Raeder, CEO of Summit Ridge Energy, expressed pride in the partnership with HASI, which has helped the company expand its market share and become the largest commercial solar company in the country. Summit Ridge Energy was founded and is led by co-founders Adam Brown, Chris Sommers, and Jason Wilding. With over 2 GW in its development pipeline, Summit Ridge Energy is set to have more than 400 MW of solar capacity online by the end of this year.
Susan Nickey, Chief Client Officer of HASI, commented that the partnership underscores HASI's commitment to delivering scalable and repeatable transactions to its clients during the energy transition. As HASI's managed clean energy assets reach $10 billion, this latest deal further solidifies the company's position as a key player in the renewable energy sector.
Read also:
- Aiming to simplify the move towards cleaner automobiles, the newly established ministry plans to take direct action with Pannier-Runacher, Létard, and Vautrin at the helm.
- "The imperfect yet essential documentary, "Planet of the Humans," raises challenging and uncomfortable inquiries"
- Exciting Escapades of Tintin
- More than half of British homes adhere to insulation standards established during the 1970s.
