Summit Ridge Energy and Bank of America Close $305 Million Credit Facility for Solar Portfolio

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[{"type":"text","content":"Strategic Partnership Highlights Continued Attractiveness of Distributed Solar Assets to Capital Markets","length":104,"tagName":"p","attribs":{}},{"type":"text","content":"ARLINGTON, Va., Sept. 9, 2025 /PRNewswire/ -- Summit Ridge Energy, the nation's leading commercial solar company, today announced the closing of a $305 million senior secured credit facility with Bank of America to support a portfolio of community solar projects across Illinois and Maryland, totaling 158 megawatts (MW) of capacity. The facility was raised alongside HASI, a leading investor in sustainable infrastructure assets.","length":434,"tagName":"p"},{"type":"image","alt":"Summit Ridge Energy solar farm, Photo credit Ben Paul Morris","displaySize":"","headline":null,"caption":"Summit Ridge Energy solar farm, Photo credit Ben Paul Morris","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":193,"url":"https://media.zenfs.com/en/prnewswire.com/288c1a6bb31890e366fdf2d218cd9825"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/tgSyFx_ELJz8t2AavH5RZA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTM0MDtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/288c1a6bb31890e366fdf2d218cd9825","width":400,"height":193}},"href":"https://mma.prnewswire.com/media/2767805/Summit_Ridge_Energy_solar_farm.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"The financing package, which includes a $281 million term loan and a $24 million letter of credit facility, will provide term financing for the portfolio. The projects are expected to deliver reliable energy savings to 5,000 households and businesses, while generating significant local tax revenue and creating 3,000 jobs in construction, engineering, and long-term operations.","length":378,"tagName":"p"},{"type":"text","content":"Bank of America acted as Structuring Agent, Syndication Agent, Coordinating Lead Arranger, Administrative Agent, Hedge Provider, and LC Fronting Bank for the oversubscribed transaction, which included ING Capital as Green Loan Structuring Agent and Coordinating Lead Arranger, and KeyBanc Capital Markets as Coordinating Lead Arranger.","length":335,"tagName":"p"},{"type":"text","content":""This financing marks another significant milestone for Summit Ridge," said Adam Kuehne, Chief Investment Officer at Summit Ridge Energy. "Expanding ou...

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