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Washington DC & Mid-Atlantic  + Virginia  + Industrial  |  September 9, 2025
Jasmine Kilman
By: Jasmine Kilman

Summit Ridge Energy, Bank of America Close $305M Credit Facility for Solar Portfolio

Bank of America and Summit Ridge Energy have closed a $305 million senior secured credit facility to support a portfolio of community solar projects across Illinois and Maryland, totaling 158 megawatts of capacity. 

The facility was raised alongside HASI, a leading investor in sustainable infrastructure assets. The financing package, which includes a $281 million term loan and a $24 million letter of credit facility, will provide term financing for the portfolio. The projects are expected to deliver reliable energy savings to 5,000 households and businesses, while generating significant local tax revenue and creating 3,000 jobs.

“Expanding our partnership with Bank of America enables us to grow our footprint in Illinois and Maryland, providing cost savings for thousands of customers while advancing America’s energy independence with U.S.-made components and local labor,” said Adam Kuehne, Chief Investment Officer at Summit Ridge Energy. The deal expands Summit Ridge’s solar portfolio to over 2 GW of projects in operation or development nationwide.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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