Apollo Global Management has committed up to $400 million in a joint venture with Summit Ridge Energy to develop a portfolio of commercial solar assets in Illinois.

Information on the Target

Summit Ridge Energy, LLC, a front-runner in the commercial solar sector, has rapidly established itself as one of the largest owner-operators of solar assets in the United States. With over 2 gigawatts of solar projects currently in operation or development, Summit Ridge spans multiple states including Illinois, Maryland, Virginia, New York, Delaware, Pennsylvania, and Maine. The company has successfully provided energy solutions to over 40,000 homes and businesses, playing a significant role in advancing American energy independence.

Since its inception in 2017, Summit Ridge Energy has secured over $5 billion in project capital to finance more than 200 solar farms. The organization's commitment to innovative energy generation not only supports local economies but also contributes to strengthening the national electric grid.

Industry Overview in the Target’s Specific Country

The renewable energy sector in the United States has witnessed significant growth, with a current emphasis on solar energy as a vital component of the country’s energy mix. The implementation of various government incentives and tax credits has made sola