$305M credit facility supporting 158 MW community solar portfolio (IL, MD)
Summit Ridge closes $305M credit facility from Bank of America for 158 MW of community solar across Illinois and Maryland. Brings total operating and development portfolio to 2+ GW nationwide.
$305M
Deal Value
158MW
Capacity
Solar
Technology
IL, MD
Location
Deal Details
- Deal Type
- Project & Portfolio M&A
- Seller / Sponsor
- Summit Ridge Energy
- Buyer / Financier
- Bank of America
- Deal Value
- $305M (senior secured credit facility)
- Stage
- Under Construction
- ISO/RTO
- MISO, PJM
- Source
- PV Tech
Capital Structure
$305M
Total transaction value
Tranches
- Senior secured term loan · Bank of America (coordinating lead arranger, administrative agent), ING Capital (green loan structuring agent, coordinating lead arranger), KeyBanc Capital Markets (coordinating lead arranger)
- $281M
- Letter of credit facility · Bank of America (LC fronting bank)
- $24M
Finance Counterparties
Lenders & Capital Providers
- lender
- Bank of America
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