Prudential Private Capital invests $82M in Community Solar Portfolio Joint Venture between HASI and Summit Ridge Energy

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DALLAS, August 8, 2024 – Prudential Private Capital provided $82 million of Senior Secured Notes to Summit Ridge Capital Holdings, a joint venture between Hannon Armstrong Sustainable Infrastructure Capital (“HASI”) and Summit Ridge Energy (“SRE”) operating community solar projects. Prudential Private Capital is a source of private debt for public and private companies and is the private capital arm of PGIM, the $1.5 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU).

Built by Summit Ridge over the last five years, the portfolio includes both ground-mount and rooftop community solar projects totaling 216 MW, providing energy savings to nearly 20,000 residential and small commercial customers throughout Illinois and Maryland.

“We are pleased to support both HASI and Summit Ridge Energy, as they continue to play a pivotal role in accelerating the development of solar energy across North America,” said Ingrida Soldatova, Senior Vice President of Prudential Private Capital’s Power group. “With the addition of this investment, our renewable  portfolio across North America and Europe exceeds $3.9 billion."

About HASI

HASI (NYSE: HASI) is a leading climate positive investment firm that actively partners with clients to deploy real assets that facilitate the energy transition. With more than $12 billion in managed assets, our vision is that every investment improves our climate future. For more information, please visit hasi.com.

About Summit Ridge Energy

As the nation’s leading commercial solar company, Summit Ridge Energy merges financial innovation and industry-leading execution to deliver clean, locally generated energy. This has made Summit Ridge one of the fastest-growing energy companies in America.

Since launching in 2017, the company has deployed over $2B into clean energy assets and controls a development pipeline of more than 3GW that will provide solar power to homes and businesses nationwide. Learn more at srenergy.com and connect with us on LinkedIn.

About Prudential Private Capital

For nearly 100 years, Prudential Private Capital has been partnering with a wide range of corporations, sponsors, and institutions to provide valuable insights and customized capital solutions that enable them to achieve their growth and funding goals. In an industry where capital can seem like a commodity and relationships are often fleeting and transactional, we are known for building enduring local partnerships based on a steady and patient commitment to our partners’ long-term capital needs. With regional teams in 15 offices around the world, we manage a portfolio of over $103 billion for our partners (as of June 30, 2024). For more information, please visit www.prudentialprivatecapital.com.