New York (May 10, 2022) — BentallGreenOak (BGO), on behalf of an institutional investor, today announced that construction has started on its largest solar project to date, financed by Summit Ridge Energy (SRE) and facilitated by Black Bear Energy. The new rooftop solar installation, combined with two previous MD community solar projects, total over 10 MW in size will be owned and operated by SRE and hosted at three of BGO’s industrial assets. Once operational, all three rooftop systems will participate in Maryland’s community solar program to provide clean, renewable power to local residents and businesses, and are expected to produce 13,627,417 kWh of electricity annually, enough to power approximately 1,163 homes.
“BentallGreenOak has an important role to play in developing innovative solutions from the built environment that deliver environmental benefits to the surrounding communities where our real estate assets reside. In partnership with Black Bear Energy and Summit Ridge Energy, the opportunity to host community solar on our rooftops provides one such opportunity for us to utilize our valuable square footage to help our local grid decarbonize,” said Mark Reinikka, Managing Director of U.S. Asset Management, BentallGreenOak.
“Summit Ridge Energy is very pleased to once again be partnering with BentallGreenOak and Black Bear Energy on another very significant rooftop solar project in Maryland. BentallGreenOak continues to be a leader among building owners in greening their overall portfolio and using their industrial warehouse assets for environmental good. Summit Ridge Energy is proud to be the chosen partner with BentallGreenOak,” said SRE’s Vice President of Business Development Nate Greenberg.
“BentallGreenOak continues to lead the industry by scaling their impact. A project of this size generates real value for the community, enabling local residents and business owners who otherwise cannot host solar on their own roofs to benefit from low cost clean electricity. We are excited to see BentallGreenOak take action to see that their distribution centers also distribute clean energy where it’s needed most,” commented Drew Torbin, Black Bear Energy’s Chief Executive Officer.
BentallGreenOak is a leading, global real estate investment management advisor and a globally-recognized provider of real estate services. BentallGreenOak serves the interests of more than 750 institutional clients with expertise in the asset management of office, industrial, multi-residential, retail and hospitality property across the globe. BentallGreenOak has offices in 27 cities across thirteen countries with deep, local knowledge, experience, and extensive networks in the regions where we invest in and manage real estate assets on behalf of our clients in primary, secondary and co-investment markets. BentallGreenOak is a part of SLC Management, which is the institutional alternatives and traditional asset management business of Sun Life.
For more information, please visit www.bentallgreenoak.com
Summit Ridge Energy is the country’s leading owner-operator of community solar assets. Through dedicated funding platforms, the team acquires pre-operational projects within the rapidly growing solar energy and battery storage sectors. Follow Summit Ridge Energy on and for updates, or learn more at www.srenergy.com.
Black Bear Energy is a technology-enabled, commercial buyer’s representative specializing in onsite renewable energy and cleantech services. In the past five years, Black Bear has helped its clients bid out over 1,000 clean technology projects in more than 20 states through its data driven process. For more information about Black Bear Energy, visit www.blackbearenergy.com.
Global Head of Communications
Director, Communications, Summit Ridge Energy