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Apollo, Summit Ridge Launch $400M Solar Partnership

Apollo, Summit Ridge Launch $400M Solar Partnership

Apollo Global Management and Summit Ridge Energy have launched a new joint venture to co-own and operate commercial solar assets throughout Illinois. Apollo-managed funds are committing up to $400 million to fuel the initiative. This move builds on their earlier collaboration, which saw Apollo invest $175 million in Summit Ridge in 2022.

Summit Ridge Energy stands out as a top player in the U.S. commercial solar market. With over two gigawatts (GW) of solar projects either up and running or in development, the company powers more than 40,000 homes and businesses. Its operations span seven states: Illinois, Maryland, Virginia, New York, Delaware, Pennsylvania, and Maine.

Over the last five years, Apollo-managed funds and affiliates have poured approximately $58 billion into investments focused on advancing climate goals and the shift to sustainable energy.

Since launching in 2017, Summit Ridge has raised over $5 billion in project capital to finance more than 200 solar farms.

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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