Summit Ridge Energy 2.4 MW solar project in Braidwood, Illinois.
Summit Ridge Energy, a major U.S. commercial solar developer, has secured a $290 million financing facility from global banking giant MUFG. The deal marks the fifth and latest collaboration between the two firms, pushing their total joint financing to nearly $1 billion and signaling deep investor confidence in the rapidly expanding American renewable energy sector.
The capital injection is earmarked for the development and construction of a new wave of commercial solar projects across the United States. This move is poised to accelerate the delivery of locally generated power, create skilled jobs, and bolster a domestic supply chain at a critical time for the nation’s energy infrastructure.
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Excerpt: “We are pleased to continue our partnership with MUFG, who we consider as one of the premier financial institutions operating in the renewable energy sector,” said Phil Schapiro, Vice President of Project Finance for Summit Ridge Energy. “This financing enables us to further expand our operations and execute on our growing energy pipeline, delivering locally generated power that strengthens the grid while providing meaningful cost savings to thousands of customers.”
Phil Schapiro, Vice President of Project Finance
Read more: Briefglance by Brenda Thompson
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Summit Ridge Energy Secures $290 Million Facility with MUFG to Expand Commercial Solar Portfolio