Summit Ridge Secures $305 Million For Expanding Community Solar Portfolio

• Summit Ridge Energy closed a USD 305 million facility to finance community-solar projects, signaling strong lender appetite for distributed portfolios.

Summit Ridge Energy has closed a USD 305 million credit facility to fund a multistate community-solar portfolio, with Bank of America acting as structuring, syndication and coordinating lead arranger; ING Capital and KeyBanc also joined the oversubscribed deal. The package will finance projects totaling 158 MW and is expected to deliver bill savings to roughly 5,000 households and businesses while supporting thousands of jobs through construction.

Why banks like this asset class: repeatability and risk dispersion. Community-solar portfolios standardize racking, inverters, and O&M, while mature subscription platforms smooth cash flows. For local grids, dozens of mid-sized arrays near load can reduce feeder stress and defer upgrades—especially when paired with small batteries to shave peaks or participate in flexibility programs.

Policy tailwinds help. States continue to expand programs with consumer protections and transparent bill crediting, keeping churn low and savings tangible. As utility-scale interconnection queues stretch, distributed projects offer faster paths to energization without sacrificing bankability. Summit Ridge’s latest close shows that, even in a higher-rate world, capital is available for executable, standardized portfolios.