September 9, 2025 at 6:00 AM Eastern
Summit Ridge Energy and Bank of America Close three hundred five million dollars Credit Facility for Solar Portfolio
Strategic Partnership Highlights Continued Attractiveness of Distributed Solar Assets to Capital Markets
ARLINGTON, Virginia – Summit Ridge Energy, the nation’s leading commercial solar company, today announced the closing of a three hundred five million dollars senior secured credit facility with Bank of America to support a portfolio of community solar projects across Illinois and Maryland, totaling 158 megawatts (M W) of capacity. The facility was raised alongside HASI, a leading investor in sustainable infrastructure assets.
The financing package, which includes a two hundred eighty one million dollars term loan and a twenty four million dollars letter of credit facility, will provide term financing for the portfolio. The projects are expected to deliver reliable energy savings to 5,000 households and businesses, while generating significant local tax revenue and creating 3,000 jobs in construction, engineering, and long-term operations.
Bank of America acted as Structuring Agent, Syndication Agent, Coordinating Lead Arranger, Administrative Agent, Hedge Provider, and LC Fronting Bank for the oversubscribed transaction, which included ING Capital as Green Loan Structuring Agent and Coordinating Lead Arranger, and KeyBanc Capital Markets as Coordinating Lead Arranger.
"This financing marks another significant milestone for Summit Ridge," said Adam Kuehne, Chief Investment Officer at Summit Ridge Energy. "Expanding our partnership with Bank of America enables us to grow our footprint in Illinois and Maryland, providing cost savings for thousands of customers while advancing America’s energy independence with United States-made components and local labor."
“We are pleased to collaborate with Summit Ridge on this energy portfolio,” said Omer Farooq, Head of Asset Finance within the Global Sustainable & Infrastructure Finance Group at Bank of America. “Our support for distributed energy projects underscores our ability to advance energy solutions that also contribute to local economic development.”
The Summit Ridge Energy portfolio will:
This portfolio expands Summit Ridge’s leadership position in solar, now with more than 2 giga watt of projects in operation or development nationwide.
As the nation’s leading commercial solar company, Summit Ridge Energy merges financial innovation and industry-leading execution to deliver locally generated energy via a more resilient and secure electric grid. This has made Summit Ridge one of the fastest-growing energy companies in America, with over 2 giga watt of solar power operating and in development.
Since launching in twenty seventeen, Summit Ridge has raised over five billion dollars in project capital to finance 200plus solar facilities, providing energy savings to more than 42,000 homes and businesses while contributing to American energy independence. Learn more at srenergy.com and connect with us on LinkedIn.
Media
press@srenergy.com
Sheryl Lee
Phone: one six five seven two three four nine nine five zero
sheryl.lee2@bofa.com
September 9, 2025 at 6:00 AM Eastern
Summit Ridge Energy and Bank of America Close three hundred five million dollars Credit Facility for Solar Portfolio
Strategic Partnership Highlights Continued Attractiveness of Distributed Solar Assets to Capital Markets
ARLINGTON, Virginia – Summit Ridge Energy, the nation’s leading commercial solar company, today announced the closing of a three hundred five million dollars senior secured credit facility with Bank of America to support a portfolio of community solar projects across Illinois and Maryland, totaling 158 megawatts (M W) of capacity. The facility was raised alongside HASI, a leading investor in sustainable infrastructure assets.
The financing package, which includes a two hundred eighty one million dollars term loan and a twenty four million dollars letter of credit facility, will provide term financing for the portfolio. The projects are expected to deliver reliable energy savings to 5,000 households and businesses, while generating significant local tax revenue and creating 3,000 jobs in construction, engineering, and long-term operations.
Bank of America acted as Structuring Agent, Syndication Agent, Coordinating Lead Arranger, Administrative Agent, Hedge Provider, and LC Fronting Bank for the oversubscribed transaction, which included ING Capital as Green Loan Structuring Agent and Coordinating Lead Arranger, and KeyBanc Capital Markets as Coordinating Lead Arranger.
"This financing marks another significant milestone for Summit Ridge," said Adam Kuehne, Chief Investment Officer at Summit Ridge Energy. "Expanding our partnership with Bank of America enables us to grow our footprint in Illinois and Maryland, providing cost savings for thousands of customers while advancing America’s energy independence with United States-made components and local labor."
“We are pleased to collaborate with Summit Ridge on this energy portfolio,” said Omer Farooq, Head of Asset Finance within the Global Sustainable & Infrastructure Finance Group at Bank of America. “Our support for distributed energy projects underscores our ability to advance energy solutions that also contribute to local economic development.”
The Summit Ridge Energy portfolio will:
This portfolio expands Summit Ridge’s leadership position in solar, now with more than 2 giga watt of projects in operation or development nationwide.
As the nation’s leading commercial solar company, Summit Ridge Energy merges financial innovation and industry-leading execution to deliver locally generated energy via a more resilient and secure electric grid. This has made Summit Ridge one of the fastest-growing energy companies in America, with over 2 giga watt of solar power operating and in development.
Since launching in twenty seventeen, Summit Ridge has raised over five billion dollars in project capital to finance 200plus solar facilities, providing energy savings to more than 42,000 homes and businesses while contributing to American energy independence. Learn more at srenergy.com and connect with us on LinkedIn.
Media
press@srenergy.com
Sheryl Lee
Phone: one six five seven two three four nine nine five zero
sheryl.lee2@bofa.com
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