Global alternative investment manager Apollo and community solar operator Summit Ridge Energy announced a new agreement, with Apollo-managed funds committing up to $400 million to form a new joint venture to jointly own and operate a portfolio of commercial solar assets across Illinois.
Community solar is a rapidly expanding segment of the renewables market that enables people, companies, and other organizations to access clean energy by subscribing to local solar farms at discounted rates to traditional utilities. Launched in 2017, Summit Ridge develops, acquires, and finances projects within the solar energy and battery storage sectors through dedicated funding platforms. The company is one of the largest owner-operators of commercial solar assets in the U.S., with over 2GW of solar projects operating and in development across Illinois, Maryland, Virginia, New York, Delaware, Pennsylvania and Maine.
Adam Kuehne, Chief Investment…
