The acquisition aims to expand Summit Ridge’s presence in the Midwest.
The solar projects, located in Ameren Illinois territory, are set to begin operations by June 2026 and will supply energy to over 5,000 homes annually. These initiatives are expected to reduce carbon dioxide emissions by nearly 60,000 tonnes each year, supporting Illinois’ goals for energy sustainability and delivering economic benefits to local communities. Arena Renewables has advanced the projects to a construction-ready stage through collaboration with local partners.
Matthew Kozey, CEO and co-founder of Arena Renewables, stated: “We are proud to work with Summit Ridge Energy on this transaction, which will bring significant domestic energy benefits to communities across Illinois.” He added: “We look forward to continuing to drive the growth of solar energy projects across the country.” Carson Weinand, Arena Renewables’ development director, commented: “The team is thrilled for this portfolio to commence construction after 18 months of diligence and development with local partners. We’ll be excited when they start generating energy for use across Illinois.”
The acquisition strengthens Summit Ridge Energy’s presence in the U.S. Midwest, aligning with its mission to provide affordable, locally produced energy. The projects enhance Summit Ridge’s ability to meet Illinois’ growing energy demands while leveraging its expertise for efficient project execution. Garren Bischoff, Summit Ridge Energy’s senior vice-president of business development, said: “We are excited to add these projects to our growing Midwest portfolio and help meet the growing energy needs of Illinois, reinforcing our commitment to expanding access to cost-effective energy that is proudly produced in the US for all.”
The sale supports Summit Ridge’s strategy to lead the commercial solar market while contributing to economic development in the region. In August 2023, Summit Ridge Energy partnered with Hannon Armstrong Sustainable Infrastructure Capital to develop a 250-megawatt community solar portfolio, further demonstrating its commitment to expanding renewable energy infrastructure.
