Simpson Thacher is advising Global Infrastructure Partners, a part of BlackRock, in connection with its agreement to acquire a majority and controlling interest in Summit Ridge Energy (“Summit Ridge”), one of the United States' leading commercial solar power companies. The acquisition is subject to customary closing conditions and regulatory approvals. Financial terms of the transaction were not disclosed.
Summit Ridge constructs, owns, and operates solar and energy storage systems throughout the Midwest, Mid-Atlantic, and New England markets. With over 275 facilities in its portfolio, Summit Ridge has delivered reliable, locally generated power to over 60,000 businesses, homes, and municipalities at lower cost since its inception. By combining financial innovation with industry-leading execution, Summit Ridge has become one of the fastest-growing energy companies in America, with more than 3 GW of solar and energy storage projects operating and in development nationwide.
The Simpson Thacher team includes Eli Hunt, Kyle Smit, David Goodman, Sichen Zhang, Bret Johanneson, Robert Hicks and Caylea Barone (M&A); Marcy Geller, Adam Arikat and George Rhein (Tax); Sam Saunders, Charles Carroll, David Kim, Mateo Garnica, Michael O’Rear, Cecilia Poston and Walker Montjoy (Credit); Andrew Blau, John O’Neill and Nicolas Deguines (ECEB); Ron Ben-Yehuda and Tally Smitas (IP); Krista McManus, Dennis Loiacono and Helene Marie Snyder (Real Estate); Mick Tuesley and Kelly Karapetyan (Antitrust); and Steven DeLott (Insurance). Summer Associate Sylvia Ebenbach provided valuable assistance on this transaction.