Shared Solar Projects Will Support More Equitable Access to Affordable Clean Power in Virginia
Dogwood Lane Solar, a 4.4MWdc solar project in Kenbridge, VA
CHARLOTTESVILLE, VA [ November 28, 2023] – Apex Clean Energy today announced the sale of four solar projects to Summit Ridge Energy, a leading owner/operator of commercial solar assets. The projects have secured capacity in Virginia’s Shared Solar Program, which will allow Dominion customers to subscribe to an offsite solar facility, lowering their energy bills while gaining access to clean energy. The portfolio—comprising Martin Trail, Dogwood Lane, Route 360, and Powell Creek—totals 19 MWac, representing more than 12% of the state’s initial 150 MW Shared Solar Program.
“With a distributed energy portfolio topping 400 MW across nine states, Apex continues to leverage our long-established development expertise to meet the evolving demands of today’s energy economy. This commercialization is the first of many to come,” said Ken Young, CEO of Apex. “Alongside industry leader Summit Ridge, Apex is delivering projects that will ensure Virginians have access to resilient clean energy solutions and savings.”
The Shared Solar Program, newly active in 2023, was launched as a component of the Virginia Clean Economy Act to support the state’s goals of reducing carbon emissions. The program incentivizes equitable access to clean energy by eliminating the minimum bill for low-income customers and establishing a 50 MW expansion plan that requires 30% of the total program’s subscribers to qualify as low income.
“The acquisition of these community solar projects marks a significant milestone for Summit Ridge’s expanding presence in our home state of Virginia,” said Garren Bisschoff, vice president of business development for Summit Ridge Energy. “Apex has a strong track record of success, so we are proud to become the long-term owner of these projects, which provide thousands of low-income households with access to clean energy and meaningful cost savings.”
The projects are part of Summit Ridge’s growing 100 MW portfolio and an expansion of Apex’s clean energy work in the companies’ home state of Virginia. Together, Martin Trail and Route 360 in Halifax, VA; Dogwood Lane in Lunenberg, VA; and Powell Creek in Prince George, VA, will serve approximately 3,200 customers. All four projects are expected to begin commercial operations in late 2024.
Read more: Apex Clean Energy, by Cat Strumlauf
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About Summit Ridge Energy
As the nation’s leading commercial solar company, Summit Ridge Energy merges financial innovation and industry-leading execution to deliver locally generated energy via a more resilient and secure electric grid. This has made Summit Ridge one of the fastest-growing energy companies in America, with over 2GW of solar power operating and in development.
Since launching in 2017, Summit Ridge has raised over $5B in project capital to finance 200+ solar facilities, providing energy savings to more than 42,000 homes and businesses while contributing to American energy independence. Learn more at srenergy.com and connect with us on LinkedIn.
About Apex Clean Energy
Apex Clean Energy was founded with a singular focus: to accelerate the shift to clean energy. Through origination, construction, and operation of utility-scale wind, solar, and storage facilities, distributed energy resources, and green fuel technologies, Apex is expanding the renewable frontier across North America. Our mission-driven team of more than 400 professionals uses a data-focused approach and an unrivaled portfolio of projects to create solutions for the world’s most innovative and forward-thinking customers. For more information about how Apex is building the energy company of the future, visit apexcleanenergy.com or follow us on Facebook, YouTube, and LinkedIn.