Apex Sells 19 MWac Distributed Energy Portfolio to Summit Ridge Energy

Charlottesville, VA – November 28, 2023 – Apex Clean Energy today announced the sale of four solar projects to Summit Ridge Energy, a leading owner/operator of commercial solar assets. The projects have secured capacity in Virginia’s Shared Solar Program, which will allow Dominion customers to subscribe to an offsite solar facility, lowering their energy bills while gaining access to clean energy. The portfolio—comprising Martin Trail, Dogwood Lane, Route 360, and Powell Creek—totals 19 MWac, representing more than 12% of the state’s initial 150 MW Shared Solar Program.

“With a distributed energy portfolio topping 400 MW across nine states, Apex continues to leverage our long-established development expertise to meet the evolving demands of today’s energy economy. This commercialization is the first of many to come,” said Ken Young, CEO of Apex. “Alongside industry leader Summit Ridge, Apex is delivering projects that will ensure Virginians have access to resilient clean energy solutions and savings.”

The Shared Solar Program, newly active in 2023, was launched as a component of the Virginia Clean Economy Act to support the state’s goals of reducing carbon emissions. The program incentivizes equitable access to clean energy by eliminating the minimum bill for low-income customers and establishing a 50 MW expansion plan that requires 30% of the total program’s subscribers to qualify as low income.

“The acquisition of these community solar projects marks a significant milestone for Summit Ridge’s expanding presence in our home state of Virginia,” said Garren Bisschoff, vice president of business development for Summit Ridge Energy. “Apex has a strong track record of success, so we are proud to become the long-term owner of these projects, which provide thousands of low-income households with access to clean energy and meaningful cost savings.”

The projects are part of Summit Ridge’s growing 100 MW portfolio and an expansion of Apex’s clean energy work in the companies’ home state of Virginia. Together, Martin Trail and Route 360 in Halifax, VA; Dogwood Lane in Lunenberg, VA; and Powell Creek in Prince George, VA, will serve approximately 3,200 customers. All four projects are expected to begin commercial operations in late 2024.