BlackRock's GIP to acquire commercial solar power firm Summit Ridge
The platform investment centers on a commercial solar power firm that constructs, owns, and operates solar and energy storage systems across the Midwest, Mid-Atlantic, and New England, with transaction terms undisclosed in the announcement.
Takeaways
- Summit Ridge is a commercial solar power company constructing, owning, and operating solar and energy storage systems.
- BlackRock and Summit Ridge are classified as a platform transaction.
- The target serves businesses, homes, and municipalities across United States.
GIP, the infrastructure fund backed by BlackRock, acquired Summit Ridge, a commercial solar power firm that constructs, owns, and operates solar and energy storage systems across the Midwest, Mid-Atlantic, and New England.
Summit Ridge serves commercial, industrial, and community solar customers with ground-mount and rooftop installations, and its portfolio includes a growing pipeline of storage projects.
The deal provides GIP with a distributed generation platform in the U.S. solar market.
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