Foss & Company Closes $150 Million Section 48E Tax Equity Investment with Summit Ridge Energy & Apollo

The financing supports community solar projects across Illinois and marks the industry's first transaction under the new Section 48E framework

DENVER, Aug. 19, 2026 /PRNewswire/ -- Foss & Company, a leading tax equity syndicator, today announced the closing of ~$150 million tax equity investment in Section 48E Clean Electricity Investment Tax Credits (ITCs), generated by a portfolio of distributed energy projects located throughout Illinois and owned through a joint venture between Summit Ridge Energy and Apollo Global Management.

This transaction extends Foss & Company's longstanding partnership with Summit Ridge Energy, marking their eighth tax equity transaction together.

The portfolio includes projects that qualify for a range of ITC adders, including Domestic Content, Energy Community and Low-Income adders. More than half of the projects in the portfolio are expected to participate in Illinois' Adjustable Block Program (ABP), which anchors 15- or 20-year renewable energy credit (REC) streams with creditworthy commercial subscribers.

This closing is also one of the industry's first announced tax equity transactions under Section 48E, requiring the firms involved to navigate Foreign Entity of Concern (FEOC) requirements introduced under the One Big Beautiful Bill (OB3/OBBB).

"This portfolio reflects the strength and durability of our relationship with Summit Ridge Energy," said Bryen Alperin, Partner and Managing Director, Foss & Company. "Beyond the size of this transaction, it demonstrates our ability to move quickly and thoughtfully on a 48E deal in the community solar market, building a FEOC diligence framework that will serve as a model for future transactions."

"This transaction underscores the strength of our partnership with Foss & Company and our ability to collectively structure sophisticated financings even as the regulatory landscape continues to shift," said Adam Kuehne, Chief Investment Officer, Summit Ridge Energy. "Successfully navigating the FEOC requirements under the new Section 48E framework on our eighth deal together speaks to the depth of that relationship. This capital allows us to keep expanding access to locally generated power for commercial subscribers and low-income households across Illinois."

Foss & Company continues to deepen its partnership with Summit Ridge Energy in support of distributed and community-scale renewable energy.

About Foss & Company

Founded in 1983, Foss & Company is a national tax equity investor and fund sponsor that, since its inception, has deployed over $11 billion in tax equity on behalf of insurance, banking, and other large corporate clients into historic rehabilitation projects, renewable energy, and advanced energy production facilities. Foss & Company is a full-service advisor with proven expertise in helping its partners navigate the world of tax equity investments. For more information about Foss & Company, please visit www.FossandCo.com.

About Summit Ridge Energy

Summit Ridge Energy is one of the nation's leading commercial solar company, developing, owning, and operating distributed energy and battery energy storage systems that deliver locally generated power through a more resilient and secure electric grid. By combining financial innovation with industry-leading execution, Summit Ridge has become one of the fastest-growing energy companies in America, with more than 3 GW of solar and energy storage projects operating and in development nationwide.

Since launching in 2017, Summit Ridge has raised over $7 billion in project capital to finance more than 250 facilities, delivering energy savings to 60,000+ homes and businesses while supporting American jobs, strengthening local economies, and advancing our nation's energy independence.

Learn more at srenergy.com and connect with us on LinkedIn.

This press release contains forward-looking statements based on current expectations and projections, subject to risks including changes in tax law, construction/completion risks, energy production variability, and market conditions that could cause actual results to differ materially. Foss & Company undertakes no obligation to update these statements.

SOURCE Foss & Company