Summit Ridge Energy breaks ground on 44MW Maine portfolio acquisition from Revision Energy

ARLINGTON, Va., Oct. 12, 2021 /PRNewswire/ -- Summit Ridge Energy (SRE) has begun construction in Maine on the first of 13 projects acquired from Revision Energy. The community solar portfolio will total 44MW and operate under the Maine NEB program. The projects are expected to reach commercial operation between 2022 and 2023. SRE is the largest community solar owner-operator in the country with over $700mm in capital funded, holding the market share of projects in Maine and Illinois.

Through its dedicated funding platform with Osaka Gas USA, SRE will finance the projects while Revision handles development, subscription, and construction of the portfolio. To date, Revision has subscribed a multitude of school districts, municipalities, hospitals, and local businesses to benefit from the utility savings these projects will generate over a 20-year period.

"We're proud to partner with Maine's largest solar contractor and look forward to delivering thousands of local residents and businesses with monthly utility savings generated entirely from clean, renewable power," said Garren Bisschoff, SRE's Vice President of Business Development.

"We are grateful for this opportunity to partner with one of the nation's leading owner operators of solar assets," said Sam Lavallee, Chief Financial Officer of ReVision Energy and one of the key architects of the partnership. "This 44 MW portfolio of solar farms will drive local economic growth, create good-paying jobs, significantly reduce Maine's carbon footprint and strengthen our energy independence,"

About Summit Ridge Energy
Summit Ridge Energy is the country's leading owner-operator of community solar assets. Through dedicated funding platforms, the team acquires pre-operational projects within the rapidly growing solar energy and battery storage sectors. Follow Summit Ridge Energy on LinkedIn and Twitter for updates, or learn more at srenergy.com.

About Revision Energy
South Portland-based ReVision Energy, a 100% employee-owned company and certified B Corp, has become the leading solar energy company in northern New England through the design and installation of more than 10,000 solar energy systems in Maine, New Hampshire and Massachusetts since the company launched in 2003. The company's mission is to lead the region in solving environmental problems caused by fossil fuels while alleviating economic and social injustice.

SOURCE Summit Ridge Energy