NEW YORK, NY — Global Infrastructure Partners (GIP), a part of BlackRock, announced that it has agreed to acquire a majority and controlling interest in Summit Ridge Energy (“Summit Ridge” or the “Company”), one of the United States’ leading commercial solar power companies.  

Founded in 2017, Summit Ridge constructs, owns, and operates solar and energy storage systems throughout the Midwest, Mid-Atlantic, and New England markets. With over 275 facilities in its portfolio, the Company has delivered reliable, locally generated power to over 60,000 businesses, homes, and municipalities at lower cost since its inception. 

The United States is seeing unprecedented growth in electricity demand alongside a renewed focus on energy security and affordability. Summit Ridge is well positioned to capitalize on these dynamics, with a proven track record of project execution from construction to operations and asset management. Its ability to add new generation quickly and deliver energy at a lower cost means it is poised to address growing demand for scalable, cost-effective energy solutions, helping to strengthen local economies and foster energy independence for businesses and communities across America. 

“We are thrilled to acquire Summit Ridge Energy, a national leader in the solar energy space,” said Mark Florian, Head of GIP Mid-Market Funds. “Its market-leading platform and strong track record positions the company at the forefront of the industry amid a shifting energy landscape characterized by rising demand and a changing energy mix. We look forward to working with Steve Raeder and Summit Ridge’s management team to enhance the business and position it for long-term future growth.” 

Already a leader in its industry, Summit Ridge has an advanced pipeline of solar and battery projects in its key markets, where it has operational expertise and established relationships. GIP’s investment will enable the Company to advance its development pipeline, hold a larger share of projects directly on its balance sheet and expand its already formidable project acquisition capabilities through new, larger funding vehicles.  

“We’re incredibly proud to partner with GIP, one of the world’s premier infrastructure investors and a firm with an unparalleled track record of building industry-leading businesses,” said Steve Raeder, Founder and Chief Executive Officer at Summit Ridge Energy. “Summit Ridge has established itself as one of the top commercial solar platforms in the United States and the industry’s leading project acquisition machine. As the market evolves, success increasingly depends on access to capital and a fully domestic supply chain. Our partnership with GIP strengthens these aspects of our business, as well as our ability to lead industry consolidation in what has become a fragmented market to further extend the competitive advantages that have made Summit Ridge the leader in our space.” 

GIP’s mid-market strategy focuses on investing in essential infrastructure businesses supported by long-term contracted or regulated revenues and structural growth drivers, such as the global transition to a lower carbon economy. 

The transaction is subject to customary closing conditions and regulatory approvals. 

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Advisors 

Marathon Capital served as financial advisor to GIP and Simpson Thacher & Bartlett LLP served as legal counsel to GIP. Citi served as financial advisor to Summit Ridge and Saul Ewing LLP served as legal counsel to Summit Ridge.  

About Global Infrastructure Partners (GIP), a part of BlackRock 

Global Infrastructure Partners (GIP), a part of BlackRock, is a leading infrastructure investor that specializes in investing in, owning, and operating some of the largest and most complex assets across the energy, transport, digital infrastructure, and water and waste management sectors.  

GIP’s scaled platform has over $200 billion in assets under management. We believe that our focus on real infrastructure assets, combined with our deep proprietary origination network and comprehensive operational expertise, enables us to be responsible stewards of our clients’ capital and create positive economic impact for communities. For more information, visit www.global-infra.com 

About Summit Ridge Energy  

Summit Ridge Energy is the nation’s leading commercial solar company, developing, owning, and operating distributed energy and battery energy storage systems that deliver locally generated power through a more resilient and secure electric grid. By combining financial innovation with industry-leading execution, Summit Ridge has become one of the fastest-growing energy companies in America, with more than 3 GW of solar and energy storage projects operating and in development nationwide.  

Since launching in 2017, Summit Ridge has raised over $7 billion in project capital to finance more than 250 facilities, delivering energy savings to 60,000+ homes and businesses while supporting American jobs, strengthening local economies, and advancing our nation’s energy independence.  

Learn more at www.srenergy.com and connect with us on LinkedIn.   

Media Contacts 

Global Infrastructure Partners 
Mustafa Riffat 
[email protected]  

Summit Ridge Energy 
Christian Brown  
[email protected]