Apex’s Strategic Solar Portfolio Sale
In a significant move, Apex Clean Energy has sold a 19 MWac distributed energy portfolio, comprising four solar projects, to Summit Ridge Energy. This transaction marks Apex’s continued commitment to meeting the evolving demands of the energy market.
Virginia’s Shared Solar Program and Clean Energy Goals
The solar projects, Martin Trail, Dogwood Lane, Route 360, and Powell Creek, have secured capacity in Virginia’s Shared Solar Program. This initiative, launched as part of the Virginia Clean Economy Act, aims to reduce carbon emissions and promote equitable clean energy access. The program eliminates minimum bills for low-income customers and includes a 50 MW expansion plan.
Summit Ridge’s Milestone in Virginia’s Clean Energy Landscape
Summit Ridge Energy, a prominent owner/operator of commercial solar assets, sees the acquisition as a milestone in their expanding presence in Virginia. The projects, expected to begin operations in late 2024, will serve around 3,200 customers, providing access to clean energy and significant cost savings for low-income households.
Paving the Way for a Cleaner, Accessible Energy Future
With Apex’s CEO, Ken Young, highlighting this commercialization as the first of many, the collaboration between Apex Clean Energy and Summit Ridge Energy is set to contribute to Virginia’s clean energy landscape. As the projects unfold, they reinforce the commitment to a sustainable future and the advancement of clean energy solutions.
Source：businesswire.com
