Arena Sells 40 MW Illinois Solar Projects to Summit Ridge

• Arena Renewables sells 40-MW solar projects to Summit Ridge, powering 5,000 homes and creating jobs in Illinois, marking a strategic Midwest solar expansion.

Arena Renewables LLC has sold a 40-MW portfolio of ready-to-build solar projects in Illinois to Summit Ridge Energy. This marks Arena's first portfolio divestiture since its launch in July 2023, following 18 months of site control and community outreach. The six projects, located in Ameren Illinois territory, are expected to power over 5,000 homes annually and offset 60,000 tonnes of CO₂ by late 2026. Summit Ridge plans to use local union labor for construction, creating 150 temporary jobs and three permanent positions.

The acquisition aligns with Summit Ridge's strategy to lead the commercial solar market in the Midwest. Arena's CEO, Matthew Kozey, expressed excitement about the projects entering the construction phase and plans to reinvest proceeds into a 200-MW pipeline across the U.S. The projects benefit from federal and state incentives, including energy-community adder credits. Both companies suggest potential future collaborations, with Arena's Midwest pipeline complementing Summit Ridge's growth ambitions.

How will Summit Ridge Energy's acquisition impact the Midwest solar market and local communities?

• Strengthens Summit Ridge Energy's position as a leader in the Midwest commercial solar market.
• Increases renewable energy capacity in Illinois, contributing to state and regional clean energy goals.
• Provides economic benefits to local communities through job creation, with 150 temporary construction jobs and three permanent positions.
• Utilizes local union labor, supporting local workforce development and ensuring fair labor practices.
• Reduces carbon emissions by offsetting 60,000 tonnes of CO₂ annually, contributing to environmental sustainability.
• Powers over 5,000 homes annually, enhancing energy independence and reliability for local communities.
• Encourages further investment in renewable energy projects in the Midwest, potentially attracting more developers and investors.
• Benefits from federal and state incentives, making solar projects more financially viable and attractive.
• Potential for future collaborations between Summit Ridge and Arena Renewables, fostering continued growth and innovation in the region's solar market.
• Arena's reinvestment into a 200-MW pipeline could lead to additional projects and opportunities in the Midwest and beyond.