Summit Ridge Energy Lands $290M to Expand US Commercial Solar Fleet

ARLINGTON, VA – January 13, 2026 – Summit Ridge Energy, a major U.S. commercial solar developer, has secured a $290 million financing facility from global banking giant MUFG. The deal marks the fifth and latest collaboration between the two firms, pushing their total joint financing to nearly $1 billion and signaling deep investor confidence in the rapidly expanding American renewable energy sector.

The capital injection is earmarked for the development and construction of a new wave of commercial solar projects across the United States. This move is poised to accelerate the delivery of locally generated power, create skilled jobs, and bolster a domestic supply chain at a critical time for the nation's energy infrastructure.

A Deepening Financial Alliance

This financing is more than a standalone transaction; it represents a significant deepening of the strategic partnership between Summit Ridge Energy and MUFG (Mitsubishi UFJ Financial Group). For MUFG, a perennial leader in global project finance, the deal underscores a sustained commitment to funding the U.S. energy transition. The bank, which ranked as the top global Lead Arranger in project finance for 2024, has a long history of backing renewable energy, from early offshore wind farms in Europe to emerging technologies like battery storage and hydrogen.

"We are pleased to continue our partnership with MUFG, who we consider as one of the premier financial institutions operating in the renewable energy sector," said Phil Schapiro, Vice President of Project Finance for Summit Ridge Energy. "This financing enables us to further expand our operations and execute on our growing energy pipeline, delivering locally generated power that strengthens the grid while providing meaningful cost savings to thousands of customers."

The repeated, nine-figure investments into a single developer highlight the maturation of commercial solar as a stable and profitable asset class, attracting significant institutional capital. This consistent flow of funding is crucial for developers like Summit Ridge to execute on long-term project pipelines.

“MUFG is proud to strengthen our partnership with Summit Ridge Energy,” commented Phillip Fletcher, Project Finance Director at MUFG. “This facility underscores our commitment to delivering tailored financing solutions that enable our clients to meet the growing energy needs of U.S. infrastructure. As a global leader in project finance, MUFG is dedicated to connecting capital to initiatives in energy and infrastructure.”

Building America's Solar Workforce

The infusion of capital is expected to have tangible economic benefits that ripple through local communities. Summit Ridge has committed to utilizing U.S.-made components and local labor, a move that aligns with the broader national push for energy independence and domestic manufacturing, heavily incentivized by federal policies like the Inflation Reduction Act (IRA).

This focus comes as the American solar industry experiences a significant employment and manufacturing renaissance. In 2024, the sector employed over 280,000 workers nationwide, with installation, project development, and long-term operations and maintenance (O&M) roles seeing steady growth. The IRA has directly catalyzed an unprecedented 190% year-over-year surge in domestic solar module manufacturing capacity, with new factories concentrated in states like Georgia and Texas.

Each new commercial solar project financed by this facility will generate skilled jobs in construction, electrical work, and engineering during the build-out phase. Following construction, they will require technicians for ongoing O&M, creating long-term employment opportunities. While Summit Ridge has not specified the exact number of jobs tied to this particular financing, their projects directly contribute to the industry-wide trend that is adding tens of thousands of careers to the American economy.

The Race to Power the Grid

A key driver behind this expansion is the urgent need to meet the “exponential growth of digital power demand” from data centers, AI, and widespread electrification. Summit Ridge’s strategy emphasizes “speed to power,” leveraging the advantages of commercial solar to bring new generation capacity online in months, not the years required for traditional, large-scale power plants.

These projects are a form of distributed generation, meaning power is produced closer to where it is consumed. This model offers several advantages for grid stability. By decentralizing power sources, the grid becomes less vulnerable to single points of failure from extreme weather or equipment malfunctions. It also reduces the energy lost during long-distance transmission from remote power plants to urban and industrial centers.

As more intermittent renewables like solar are added to the grid, managing fluctuations in power supply becomes a primary challenge for utility operators. However, the industry is rapidly innovating with solutions like co-located battery energy storage systems (BESS) and advanced smart grid technologies. These tools help smooth out the variable output of solar, storing excess energy generated during peak sun hours and dispatching it when demand is high or the sun isn't shining, thereby transforming solar farms into reliable, 24/7 assets.

Local Power, National Impact

While the specific locations for the new projects have not been announced, Summit Ridge Energy's portfolio is national in scope. The commercial solar market is currently thriving in states with supportive policies, including California, Illinois, New York, and Maine, making them likely candidates for future development. The company, one of the fastest-growing independent power producers in the country, has already raised over $5 billion since its founding in 2017 to finance more than 200 solar facilities.

Beyond grid-level benefits, these projects often deliver direct economic advantages to communities. Through community solar models, a subset of commercial solar, local residents and small businesses can subscribe to a portion of a solar farm's output and receive credits on their electricity bills, typically saving 10-15%. This democratizes access to clean energy, particularly for renters and low-to-moderate-income families who cannot install their own rooftop panels.

Furthermore, solar developments become long-term economic anchors, contributing significant tax revenue to local municipalities and counties. This new income helps fund essential public services like schools, infrastructure, and first responders. As Summit Ridge Energy deploys this latest round of financing, it continues to build on its portfolio of over 2 gigawatts of solar power, solidifying its role not just as an energy provider but as a key partner in America’s economic and environmental future.