Summit Ridge Energy develops and operates community solar projects across the U.S., with a portfolio that the company says now includes more than 2 gigawatts of projects operational or in development. Founded in 2017 and based in Arlington, Va., the firm focuses on community solar portfolios that deliver cost savings to residential and commercial customers. Summit Ridge has raised over $5 billion in project capital to support more than 200 solar plants to date. The company said its projects generate local tax revenue and create jobs in construction, engineering and operations. The financed portfolio in this transaction will support 158 megawatts of solar capacity serving roughly 5,000 households and businesses and is expected to create about 3,000 jobs. Summit Ridge is expanding its presence in Illinois and Maryland through partnerships with major banks and infrastructure investors. Summit Ridge Energy is a leading owner-operator of community solar assets that develops, acquires and finances solar and battery storage projects. Since launching in 2017 the company has formed two joint ventures totaling over $1 billion in permanent project capital and grown its portfolio to more than 300 MW of projects in operation or under construction. By the end of 2023 Summit Ridge expected to have over 500 MW of solar and 100 MWh of battery storage online, providing energy savings to approximately 175,000 residential and commercial customers. Its core business centers on community solar subscriptions that expand access to clean energy, including in urban and low-to-moderate income markets. With the Apollo investment Summit Ridge plans to further expand its geographic footprint and continue scaling its fully integrated platform. Management emphasizes growth and operational scaling, with CEO Steve Raeder continuing as board chairman following the transaction.

Total raised

$480M

Funding rounds

3

Latest round

Debt Financing

Latest activity

Sep 2025