June 5 (Renewables Now) - Climate change solutions investor Hannon Armstrong (NYSE:HASI) and Summit Ridge Energy (SRE) have teamed up to jointly invest in community solar projects across a number of US states, they announced on Tuesday.
The collaboration with SRE will see Hannon Armstrong provide long-term financing to community solar projects developed and acquired by its partner.
The pair starts with projects in Prince George’s and Baltimore Counties of Maryland that are expected to become operational this summer. Summit Ridge is looking to build more than 250 MW in total over the next few years, the announcement says.
“Community solar combines the scale of grid-connected solar projects with the economics of behind-the-meter solar. When you consider the localized benefits of this novel clean energy solution, it’s only fitting our first projects together will expand solar power access for our fellow Marylanders,” commented Hannon Armstrong President & CEO Jeffrey Eckel.