Summit Ridge Energy, a leading owner-operator of U.S. based community solar projects, has successfully closed on a $55 million tax equity commitment from investment manager Foss & Company for a 73MW portfolio of residential and commercial community solar projects located across Illinois, Maryland and Maine. Project construction is underway, with commercial operation expected by the end of 2021.
CohnReznick Capital was the exclusive financial advisor to Summit Ridge Energy on the transaction.
“Community solar allows customers to actively support carbon reduction and energy equity goals, all while benefiting from reduced electricity rates,” said Richard O’Day, Senior Managing Director at CohnReznick Capital. “We’re proud to support Summit Ridge Energy on this transaction and their broader efforts to provide clean energy to communities across America.”
For additional details on this transaction, please contact Richard O’Day, Senior Managing Director.
For Summit Ridge Energy’s press release, please click here.
About Summit Ridge Energy
Summit Ridge Energy is the country’s leading owner-operator of community solar assets. Through dedicated funding platforms, the team acquires pre-operational projects within the rapidly growing solar energy and battery storage sectors. Learn more at srenergy.com.
About Foss & Company
Since 1983, Foss & Company has been a reliable resource, working with institutional clients around the country to find the best investment solutions to meet their strategic tax planning needs. These tax credit solutions result in low-risk, sustainable options with predictable, risk adjusted returns. With over $7 billion in equity raised, Foss & Company is a full-service advisor with proven expertise navigating the world of tax credit investment, resulting in accessible and efficient tax advantage investments. For more information, visit www.fossandco.com.