Summit Ridge Energy is financing a 2.7-MW community solar project with development assistance from Black Bear Energy. The two solar projects totaling 2.7 MW in size will be owned and operated by SRE and hosted on two of real estate investor BentalGreenOak’s industrial assets.
“It is inherent in our investment philosophy to explore innovative and meaningful ways to create connection points between our assets and the communities that surround them, in order to produce economic, environmental and social benefits. In partnership with Black Bear Energy and Summit Ridge Energy, we are demonstrating that industrial assets can also achieve these goals by utilizing valuable rooftop square footage to reliably deliver clean energy back to the local grid,” said Mark Reinikka, managing director of U.S. asset management, BentallGreenOak.
Once operational in early 2022, both rooftop systems will participate in Maryland’s community solar program to provide renewable power to local residents and businesses and are expected to produce 3,498,755 kWh of electricity, enough to power approximately 300 homes for one year.
“Summit Ridge Energy continues to be the nationwide leader in financing community solar projects and is thrilled to partner with BGO and Black Bear Energy to build another project in Maryland. SRE looks forward to starting construction on this large-scale rooftop solar array,” said SRE’s Vice President of Business Development Nate Greenberg.
Drew Torbin, Black Bear Energy’s CEO, added: “It is exciting to work with clients like BGO that take advantage of community solar opportunities to create value not just for themselves but for the greater community. We are proud to support our clients’ efforts in increasing renewable energy generation and providing low-cost renewable power to the wider community.”
