Arlington, VA – Summit Ridge Energy (SRE) announced today the completion and energization of its “Fulton” solar project, a 2.7 megawatt DC community solar farm comprised of nearly 7,000 solar panels. The project is built across 30 acres in Fulton County, Illinois. This marks a significant milestone for both SRE and the state, as Fulton is the first community solar project to come online in Ameren Illinois’ service territory under the Illinois Power Agency’s Adjustable Block Program. Summit Ridge purchased Fulton from Minnesota-based Sunrise Energy Ventures, who developed the project, and hired Borrego Solar to serve as general contractor to oversee the project’s construction.
“SRE is proud to energize our Fulton project, especially given the challenges our team and the industry as a whole have faced over the last few months dealing with the impacts of COVID-19,” said SRE CEO Steve Raeder. “Fulton represents the first to come online out of 36 community solar projects we’re building across the state, which in total will provide cost-savings to more than 15,000 Illinois households over the next 25 years.”
The Fulton project itself will serve approximately 400 households, all of which were subscribed by Arcadia Power. When fully constructed, SRE’s Illinois community solar fleet will generate approximately 150 gigawatt-hours per year of energy, representing approximately $750,000 per year in utility savings for customers located throughout the state.
Summit Ridge Energy is the leading owner-operator of U.S. community solar projects. The team has been a strong force within the U.S. commercial solar market for years and was instrumental in the creation of “virtual” solar power purchase agreements and associated financing structures. Summit Ridge Energy has leveraged this experience to launch Summit Ridge Capital, a dedicated funding platform that acquires pre-operational projects within the rapidly growing community solar energy sector. Follow Summit Ridge Energy on LinkedIn and Twitter for updates, or learn more at srenergy.com.
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