Summit Ridge Energy Secures $290 Million MUFG Facility to Accelerate U.S. Commercial Solar Build-Out

New updates have been reported about Summit Ridge Energy.

Summit Ridge Energy has closed a new $290 million financing facility with MUFG to fund the development and construction of its commercial solar portfolio across the U.S., reinforcing the company’s capital access and growth trajectory. This is the fifth facility MUFG has provided to Summit Ridge, bringing total partnership financing to nearly $1 billion and positioning the Arlington, VA-based independent power producer to scale its pipeline of projects serving local communities and businesses with lower-cost, locally generated power. Phil Schapiro, Summit Ridge’s Vice President of Project Finance, said the facility will support expansion of operations and execution of the company’s growing energy pipeline, while strengthening grid resilience and delivering cost savings to thousands of end customers.

The new capital underscores MUFG’s strategy of backing U.S. energy infrastructure and validates Summit Ridge’s standing as one of the nation’s leading commercial solar developers, owners, and operators. Since its 2017 launch, Summit Ridge has raised more than $5 billion in project capital to finance over 200 solar facilities, building a portfolio of more than 2 GW operating and in development, and providing energy savings to over 42,000 homes and businesses. The MUFG facility is expected to fund additional community and commercial-scale projects that advance American energy independence and support increasing electricity demand. For executives and investors, this transaction signals continued institutional appetite for Summit Ridge’s asset class, enhances the company’s ability to deploy capital at scale, and supports its strategy of leveraging financial innovation and operational execution to expand its independent power production footprint nationwide.