Summit Ridge Energy and HASI have closed a $309 million back-leveraged term loan on a portfolio of 80 operating community solar projects.
The 216 MW portfolio, built by Summit Ridge, includes ground-mount and rooftop community solar projects throughout Illinois and Maryland.
“We’re thrilled to partner with Bank of America, Nomura Securities International, Prudential Private Capital and MetLife Investment Management to close this significant investment, which demonstrates the appetite for community solar as an asset class within the capital markets,” says Adam Kuehne, CIO at Summit Ridge Energy.
“We’re also proud of our five-year community solar partnership with HASI and invigorated by the finance community’s confidence in our joint portfolio and approach. Our team is committed to continue investing in and expanding access to clean, renewable energy for communities nationwide.”
Lenders included Bank of America, Nomura Securities International, Prudential Private Capital and MetLife Investment Management. Bank of America acted as the sole structuring and placement agent and joint lead arranger. Nomura acted as the joint lead arranger.
The projects are owned by Summit Ridge Capital Holdings, a joint venture between Summit Ridge Energy and HASI.
The post Summit Ridge, HASI Finance Community Solar Portfolio Across Illinois and Maryland appeared first on Solar Industry.
Summit Ridge, HASI Finance Community Solar Portfolio Across Illinois and Maryland
I get a call every week or so from someone working for a start-up in oil exploration, hoping that I’ll invest. I guess my name and cell number got collected somehow from various online searches I’ve made.
I’m always quick to explain, “Oh, sorry, I don’t support wrecking the planet, even if I can profit from it. Neither should you. Bye now.”
I wish this were true, but most of these people don’t have passports, and many of them can’t afford to bus ticket to a neighboring county in West Virginia, Alabama, etc.
Wish There Were Better News, but Trump Supporters Aren’t Leaving
To the reader who sent me this: I’m with you, except that I occasionally turn on Fox News so as to understand what these people are feeding to their audience of hateful morons.
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