GIP Buys Majority Stake in US Solar Firm Summit Ridge Energy
Global Infrastructure Partners (GIP), an affiliate of BlackRock, purchased a majority stake in Summit Ridge Energy, a US developer of solar and energy storage projects. The company, founded in 2017, focuses on projects in the Midwest, Mid-Atlantic, and New England regions of the United States.
In December 2025, Summit Ridge Energy acquired a 20 MWac distributed solar portfolio from Apex Clean Energy, consisting of projects in Illinois. These projects are slated to become operational by the end of 2026.
Crux invested $244 million in Summit Ridge Energy’s Illinois solar portfolio in October 2025, supporting roughly 200 MW of community and commercial solar projects. The deal utilized a financial structure to maximize federal tax credit monetization. The acquisition remains pending regulatory approvals.
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