Foss & Company Closes $150 Million Section 48E Tax Equity Investment with Summit Ridge Energy
Foss & Company has closed a ~$150 million tax equity investment in Clean Electricity ITCs under the new Section 48E framework, supporting community solar projects across Illinois. The portfolio is owned by a joint venture between Summit Ridge Energy and Apollo Global Management. This marks one of the first transactions under Section 48E and includes adders for Domestic Content, Energy Community, and Low-Income benefits. More than half of the projects are expected to participate in Illinois' Adjustable Block Program (ABP), securing long-term renewable energy credit streams with commercial subscribers. The deal also required navigating FEOC requirements under OB3/OBBB legislation, establishing a model for future transactions. This is the eighth tax equity transaction between Foss & Company and Summit Ridge Energy. The investment highlights continued growth in distributed solar projects and reinforces partnerships that support renewable energy expansion across Illinois.
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Topics: community_solar renewable_energy Section_48E tax_equity