Summit Ridge Vitality has acquired 19 group photo voltaic tasks, positioned throughout Virginia, totaling 100 MW.
The portfolio was obtained from seven companions, together with Apex Clear Vitality, ESA Photo voltaic, ForeFront Energy, New Leaf Vitality, RWE Clear Vitality and SolAmerica Vitality. The acquisitions had been made by Summit Ridge’s three way partnership with Osaka Gasoline USA, a subsidiary of Osaka Gasoline.
Virginia has invested $250 million in direction of development and operation of the portfolio’s tasks, which is able to present greater than 1,000 jobs for development staff, distributors and native companies.
“This new portfolio is an instance of our potential to execute in a difficult financial setting and demonstrates our dedication to our house state of Virginia,” says Steve Raeder, Summit Ridge CEO. “Extra importantly, the entire financial savings generated by every photo voltaic challenge might be supplied to low-income prospects, lowering electrical energy payments for hundreds of Virginia households.”
The portfolio makes Summit Ridge the market chief in its house state of Virginia and represents greater than two-thirds of the tasks to be constructed beneath the state’s Shared Photo voltaic Program.
Launched as a part of the state’s Clear Financial system Act, the Shared Photo voltaic Program is designed to help Virginia’s decarbonization targets and incentivize equitable entry to wash vitality.
