Global Infrastructure Partners (GIP), a part of BlackRock, has plans to acquire a majority controlling interest in U.S. commercial solar power company Summit Ridge Energy.
Founded in 2017, Summit Ridge constructs, owns and operates solar and energy storage systems throughout the Midwest, Mid-Atlantic and New England markets. The company has more than 275 facilities in its portfolio and has delivered reliable, locally generated power to more than 60,000 businesses, homes and municipalities at lower cost since its inception. Summit Ridge also has an advanced pipeline of solar and battery projects in its key markets.
GIP’s investment will allow the company to advance its development pipeline, hold a larger share of projects directly on its balance sheet and expand its project-acquisition capabilities through new, larger funding vehicles.
Financial terms of the transaction were not disclosed.
“We’re incredibly proud to partner with GIP, one of the world
