Arena Renewables LLC, a developer specializing in community and distributed solar and storage projects, has announced the sale of its first solar portfolio to Summit Ridge Energy. This portfolio includes six remote crediting solar projects located in Illinois, with a combined installed capacity of approximately 40 megawatts. The transaction marks a significant milestone for Arena Renewables, which was established in July 2023, and represents a key step in the company’s growth as it transitions projects from development to execution.

The acquired projects will help Summit Ridge Energy expand its operations in the Midwest, strengthening its ability to deliver affordable, domestically produced clean energy to communities across the region. Once operational, expected within the next year, the projects will generate enough electricity to power more than 5,000 homes annually. In doing so, they are projected to offset nearly 60,000 metric tons of carbon dioxide emissions each year, contributing to environmental sustainability and energy resilience.

Garren Bischoff, SVP for Business Development of Summit Ridge Energy, said in a statement, “We are excited to add these projects to our growing Midwest portfolio and help meet the growing energy needs of Illinois, reinforcing our commitment to expanding access to cost-effective energy that is proudly produced in the U.S. for all. This acquisition aligns perfectly with our strategy to lead the commercial solar market while supporting investment in the economic development of the U.S.”

Matthew Kozey, CEO and Co-Founder of Arena Renewables, added, “We are proud to work with Summit Ridge Energy on this transaction, which will bring significant domestic energy benefits to communities across Illinois. We look forward to continuing to drive the growth of solar energy projects across the country,” Carson Weinand, Director of Development at Arena Renewables added, “The team is thrilled for this portfolio to commence construction after eighteen months of diligence and development with local partners. We’ll be excited when they start generating energy for use across Illinois.”

All six projects are located within the Ameren Illinois service area and will support the state’s broader goals of energy independence and carbon reduction. In addition to environmental benefits, the projects will offer economic advantages to local communities, including job creation and investment in local infrastructure. Arena Renewables successfully advanced the development of these projects to construction readiness, ensuring a smooth handover to Summit Ridge Energy, which will now oversee the build-out and long-term operation of the systems.