Saul Ewing served as legal counsel to Summit Ridge Energy, LLC in a deal with Global Infrastructure Partners (GIP), a part of BlackRock, in which GIP has agreed to acquire a majority and controlling interest in Summit Ridge Energy ("Summit Ridge" or the "Company"), one of the United States' leading commercial solar power companies. The agreement was announced on July 14, 2026.
Founded in 2017, 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, the Company has delivered reliable, locally generated power to over 60,000 businesses, homes, and municipalities at lower cost since its inception.
Already a leader in its industry, Summit Ridge has an advanced pipeline of solar and battery projects in its key markets, where it has operational expertise and established relationships. GIP’s investment will enable the Company to advance its development pipeline, hold a larger share of projects directly on its balance sheet and expand its already formidable project acquisition capabilities through new, larger funding vehicles.
"We're incredibly proud to partner with GIP, one of the world's premier infrastructure investors and a firm with an unparalleled track record of building industry-leading businesses," said Steve Raeder, Founder and Chief Executive Officer at Summit Ridge Energy. "Summit Ridge has established itself as one of the top commercial solar platforms in the United States and the industry's leading project acquisition machine. As the market evolves, success increasingly depends on access to capital and a fully domestic supply chain. Our partnership with GIP strengthens these aspects of our business, as well as our ability to lead industry consolidation in what has become a fragmented market to further extend the competitive advantages that have made Summit Ridge the leader in our space."
Saul Ewing's Summit Ridge team was led by Mark Gruhin, with assistance from attorneys Julia Taylor, Stanley Kull, Fielden Flemming, David Shapiro, Rob Duston, Andy Daly, Michael Finio, David Manjorin, and Katelyn Winslow. Marathon Capital served as financial advisor to GIP and Simpson Thacher & Bartlett LLP served as legal counsel to GIP. Citi served as financial advisor to Summit Ridge.
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