Summit Ridge Energy (SRE), a US-based commercial solar developer, has closed a $290 million financing facility with Mitsubishi UFJ Financial Group (MUFG), a major Japanese finance company. The facility will finance the development and construction of commercial solar projects across the company’s portfolio. This transaction represents the fifth financing facility partnership between Summit Ridge Energy and MUFG, bringing total facility partnerships close to $1 billion. The announcement states that financed projects will use US-made components and local labor while adding distributed solar capacity to support grid reliability. Summit Ridge Energy has reported that it has more than 2 GW of solar power portfolio under operational and in development phases. Since launching in 2017, SRE has raised over $5 billion in project capital to finance more than 200 solar facilities. SRE has also stated that its projects provide energy savings to more than 42,000 homes and businesses. Recently, Apex and Summit Ridge have finalised the transfer of a 20 MW AC distributed PV portfolio in Illinois.