Arlington, VA based Summit Ridge Energy (SRE) announced that it will acquire 11 projects from Pivot Energy in Illinois totaling 29 MWs, increasing SRE’s portfolio of community solar projects in the state to more than 20.
Pivot developed 29 MWs that won Adjustable Block awards, and will be contracted by SRE to handle customer acquisition and management for those projects.
“We have been fortunate to work with SRE on these projects, which are some of the first community solar arrays in the state,” said Pivot’s CEO, Rick Hunter. “Pivot is committed to our project communities and the Illinois market for the long run, and we’re glad to have a partner with the same mentality in SRE.”
Mark Raeder, SRE’s Principal in the Midwest, said the company plans to construct over 75 MWs of community solar in Illinois alone over the next 18 months. “We’re breaking ground on several projects in Ameren service territory this summer, with construction activities beginning in ComEd shortly thereafter. With favorable renewable energy legislation likely to pass in Springfield this fall, we’re continuing to acquire projects across the state, serving to further expand our presence and demonstrate our strong commitment to the Illinois market.”
“Both Summit Ridge and Pivot have been active in the Illinois market since well before the launch of the Adjustable Block Program,” said SRE CEO Steve Raeder. “Our funding vehicle, Summit Ridge Capital, coupled with Pivot’s customer aggregation platform, SunCentral, will enable thousands of customers to realize the financial benefits of community solar across Illinois.”
The recent expansion of community solar programs across 20 states to date has become the catalyst to America’s commercial solar industry, presenting tremendous opportunity for customers who want the cost and environmental benefits of solar without installing panels on their roof. Community solar provides reduced electricity costs for consumers, regardless of their socioeconomic status or geographic location, protects the environment, and reduces our dependence on fossil fuels.
