Apollo and Summit Ridge to co-own solar assets in Illinois

Global asset manager, Apollo has committed up to $400 million to a joint venture with Summit Ridge Energy to own and operate commercial solar assets across Illinois.

By Prudhvi Rani 14 Apr 2025 in America Bytes Market Bytes

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Apollo linked the joint venture with its $58 billion climate investment activity, with Orrick Herrington & Sutcliffe providing legal counsel for the transaction. Image Source: AI Generated

Summit Ridge Energy, a US commercial solar owner-operator, and Apollo announced a joint venture backed by up to $400 million from Apollo-managed funds to own and operate commercial solar assets in Illinois. Summit Ridge Energy had over 2 GW of projects operating or in development across seven states. The Apollo Funds had previously invested $175 million in Summit Ridge in 2022. The partnership aimed to expand local energy systems and increase grid reliability. Apollo stated the deal aligned with its climate and energy transition investment activities. Over five years, Apollo-managed funds arranged around $58 billion for clean energy and infrastructure projects. Orrick, Herrington & Sutcliffe LLP served as Apollo’s legal counsel.

#Illinois #USCleanEnergy #SummitRidgeEnergy #Apollo

Advertisment {'id': '67fcb97fef2ca23ff7c68a40', 'source_name': 'GlobeNewswire', 'source_link': 'https://www.globenewswire.com/news-release/2025/04/11/3060061/0/en/Apollo-Funds-Commit-up-to-400-Million-for-New-Commercial-Solar-Partnership-with-Summit-Ridge-Energy.html', 'contact_name': 'Noah Gunn,Summit Ridge Energy', 'contact_email': '[email protected] , [email protected] '}

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