Commercial solar developer Summit Ridge Energy has grown its solar portfolio in the Midwest by 40 megawatts with the acquisition of assets from Arena Renewables. (Source: Shutterstock)
Commercial solar developer Summit Ridge Energy has grown its solar portfolio in the Midwest by 40 megawatts with the acquisition of assets from Arena Renewables.
Arena on May 28 said it completed the sale of six Illinois remote crediting solar projects. The portfolio sale marked the first for Arena since it was founded in July 2023.
“This acquisition aligns perfectly with [Summit Ridge’s] strategy to lead the commercial solar market while supporting investment in the economic development of the U.S.,” said Garren Bischoff, senior vice president for business development of Summit Ridge Energy.
Together, the projects are expected to produce enough energy to power more than 5,000 homes annually when commercial operations begin over the next year, Arena said in a news release. The company said the projects, which are located in the Ameren Illinois territory, are ready for construction.
“The team is thrilled for this portfolio to commence construction after 18 months of diligence and development with local partners,” said Arena Renewables CEO Matthew Kozey. “We’ll be excited when they start generating energy for use across Illinois.”
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