Summit Ridge Energy (SRE) has completed Simba, a 3 MW community solar farm built across 24 acres in Prince George’s County, Md.
The project was developed and built by Cypress Creek Renewables, who remains the O&M operator, and will be providing nearly 375 Maryland residences with savings via credits applied to their electricity bills. Simba is owned and operated by Summit Ridge Capital, SRE’s joint-venture fund with Hannon Armstrong Sustainable Infrastructure.
“SRE is excited to turn on this community solar project in Maryland with our partners at Cypress Creek,” says SRE CEO Steve Raeder. “Simba is the first of our 19 projects in the state that will come online by the end of 2020, and serves as a prime example of the ‘win-win’ benefits solar power can provide to residential customers.”
When fully constructed in Q4 of 2020, SRE’s community solar fleet in Maryland will generate ~35 GWh/year of credits representing over $5 million in utility savings over the next 20 years for customers located throughout both BG&E and Pepco Service territories.
Maryland’s renewable portfolio standard (RPS), which was expanded earlier this year, mandates that 50% of the state’s electricity will be generated by in-state sources of renewable energy by 2030 and targets 100% by 2040.
The Community Solar Pilot Program offers landowners the opportunity to create predictable, long-term income by hosting solar projects while providing access to solar energy and cost savings for neighboring residences.