The US$309 million back-leveraged term loan will support 80 community solar projects owned by Summit Ridge Capital Holdings, a joint venture (JV) between Summit Ridge Energy and HASI
The flagship development is the Esmerelda 7 solar and battery energy storage system (BESS) project, which comprises seven utility-scale solar facilities with a combined 5.35GW of generation capacity.
Crux said that the tax credit transferability market has “outpaced expectations” from when the Department of Treasury released guidance on the scheme in June 2023.