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Summit Ridge Energy, HASI secure USD 309 million for 216 MW community solar portfolio

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US commercial solar company Summit Ridge Energy and climate solutions investor HASI have secured a USD 309 million debt financing facility to support a 216-MW portfolio of community solar assets. The back-leveraged term loan will fund 80 ground-mounted and rooftop PV parks in Illinois and Maryland, serving nearly 20,000 residential and small commercial customers.

The financing was provided by a syndicate of lenders, including Bank of America, Nomura Securities International, Prudential Private Capital, and MetLife Investment Management. The projects are owned by Summit Ridge Capital Holdings, a joint venture between Summit Ridge Energy and HASI, established in 2019 and expanded last summer with an additional 250 MW of projects.

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