CohnReznick Capital is pleased to announce that Summit Ridge Energy (“SRE”), a leading owner-operator of U.S. based community solar projects, has secured tax equity financing for a 27MW community solar portfolio. The tax equity investment – provided by NT Solar, a subsidiary of the National Trust Community Investment Corporation (NTCIC) – represents one of SRE’s largest tax equity transactions to date.
CohnReznick Capital was the exclusive financial advisor to SRE on the transaction.
The diverse portfolio is comprised of 11 assets – 9 Illinois-based ground mount projects and 2 Maryland-based rooftop projects.
“Summit Ridge Energy has yet again demonstrated its sector leadership in community solar by forging this new partnership with NTCIC despite challenging market conditions,” said Richard O’Day, Senior Managing Director at CohnReznick Capital. “This transaction is a testament to the superiority of SRE’s management, development capabilities, and financial acumen.”
For additional details on this transaction, please contact:
Senior Managing Director
For SRE’s press release, please click here.
About Summit Ridge Energy
Summit Ridge Energy is the leading owner-operator of U.S. community solar projects. The team has been a strong force within the U.S. commercial solar market for years and was instrumental in the creation of “virtual” solar power purchase agreements and associated financing structures. Summit Ridge Energy has leveraged this experience to launch Summit Ridge Capital, a dedicated funding platform that acquires pre-operational projects within the rapidly growing community solar energy sector. Follow Summit Ridge Energy on LinkedIn and Twitter for updates, or learn more at srenergy.com.
About NTCIC and NT Solar
NTCIC, an affiliate of the National Trust for Historic Preservation, is among the largest tax credit syndicators in America. The organization supports the country’s architectural heritage, community development, and renewable energy initiatives through the provision of Federal and State Historic Preservation, Low-Income Housing, New Markets, and Renewable Energy Tax Credits. Since its inception in 2000, NTCIC has provided tax credit financing of over $1.6 billion in capital for over 200 transactions nationwide. NT Solar was established in 2012 to support solar investments that generate meaningful community impact and provide cost-effective energy options to low-income communities.