01 Jul '17, 6am

Former SunEdison Solar Team Lands Funding for New Venture from PennWell

Summit Ridge Energy, a new solar company led by former employees of bankrupt SunEdison Inc., obtained funding to build, finance and acquire solar power plants across the U.S. New York-based Aligned Intermediary, an investment adviser focused on climate-related projects, raised capital from five members of its team and six outside backers, said Peter Davidson, its CEO and a former head of a federal program that offers loan guarantees to innovative energy projects. Investors, including family offices and college endowments, and funding terms were not disclosed. “There are many purchasers of solar facilities once they reach commercial operations,” Davidson said in an interview Tuesday. “But there’s little capital available for funding early development.” Summit Ridge will focus on commercial and industrial solar project development — a specialty of CEO Steve Raeder, who had l...

Full article: http://www.renewableenergyworld.com/articles/2017/06/form...

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Summit Ridge Energy, a new solar company led by former employees of bankrupt SunEdison Inc., obtained funding to build, fi...

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