Many of the projects are expected to start construction in the first quarter of 2024 and be completed by Q4 2024.
“We chose to work with Castillo Engineering on this portfolio of projects due to their extensive community solar experience within Illinois, their project management office, as well as their highly customised solutions,” said Pradeep Mohanraj, vice president of engineering at Summit Ridge Energy.
With this new partnership to build 82MW of community solar projects in Illinois, Summit Ridge Energy continues to increase its presence in the midwestern US state. Last year, it partnered with investment firm HASI to build, own and operate 250MW of community solar projects in Illinois and Maryland.
Moreover, Summit Ridge Energy raised a further US$275 million last November to fund a portfolio of 15 projects in Illinois and another 15 in Virginia. Soon after, PV Tech Premium spoke with the company’s co-founder and chief operating officer, Brian Dunn, about this transaction and the financing of projects in the US.
In 2021, the state passed a climate bill to accelerate renewables’ growth and expected 5.8GW of rooftop and community solar additions by 2030.
Community solar is poised to grow in the coming years, not only in Illinois but across the country. It is expected to add 6GW of capacity between 2023 and 2027, according to a report from Wood Mackenzie and the Coalition for Community Solar Access (CCSA).
As more states continue to pass legislation or programmes directed to community solar, its growth is set to accelerate even further thanks to the Inflation Reduction Act.
Furthermore, Illinois is among the leading states in the US in the community solar market, ranking fourth with 220MW of installed solar capacity as of Q3 2023.
This year alone several project announcements have been made in Illinois, including community solar company Nautilus Solar Energy acquiring a 75.6MW portfolio in January, developer Reactivate partnering with US retailer Walmart and US Bancorp Impact Finance – a subsidiary of financing entity US Bank – to develop solar projects in Illinois and New York, the leading state for community solar.
