Arlington, VA, Jan. 23, 2025 (GLOBE NEWSWIRE) — Summit Ridge Energy (SRE), the nation’s leading commercial solar company, today announced a long-term agreement with OSF HealthCare, a not-for-profit healthcare network based in Illinois. Through this agreement, OSF HealthCare’s network of over 180 hospitals and healthcare facilities will subscribe to 14 community solar projects owned and operated by SRE across Illinois, resulting in significant energy savings.
The development and construction of the 14 remotely sited projects, which total 24 MWs, is already supporting hundreds of construction and manufacturing jobs; and when complete, will enable OSF HealthCare to offset its greenhouse gas emissions while simultaneously supplying Ameren and ComEd with electricity to support their respective electric grids.
OSF HealthCare will receive annual energy savings starting in late 2025 of approximately $450,000 across their healthcare network totaling $9mm over the 20-year agreement.
“OSF HealthCare’s solar energy purchasing agreement with Summit Ridge is a significant achievement that puts our commitment to environmental stewardship and sustainability into action,” said Michael Keefe, Energy and Sustainability Manager, OSF HealthCare. “Participating in Community Solar in Illinois is layered with benefits: it reduces OSF utility costs, it improves community health by reducing air pollution, and it supports the state of Illinois’ move to clean, carbon-free energy. Subscribing to community solar is a win-win and emblematic of OSF’s ongoing innovation and leadership in healthcare.”
“We’re excited to begin this relationship with OSF HealthCare. This agreement marks a significant milestone for Summit Ridge as we are now able to deliver cost savings to a major healthcare provider in a state that means a great deal to our organization,” said Marc Fioravanti, Senior Vice President of Business Development at SRE. “This partnership underscores our commitment to supporting hospital systems in reducing costs while advancing American energy independence, strengthening utility grid resilience, and enhancing national energy security.”
The 14 projects supporting this agreement are being constructed with domestically manufactured components from Georgia, Florida, and Wisconsin.
About Summit Ridge Energy
As the nation’s leading commercial solar company, Summit Ridge Energy merges financial innovation and industry-leading execution to deliver locally generated energy via a more resilient and secure electric grid. This has made Summit Ridge one of the fastest-growing energy companies in America, with over 2GW of solar power operating and in development.
Since launching in 2017, Summit Ridge has raised over $5B in project capital to finance more than 200 solar farms, providing energy savings to more than 40,000 homes and businesses while contributing to American energy independence. Learn more at srenergy.com and connect with us on LinkedIn.
About OSF HealthCare
OSF HealthCare is an integrated health system founded by The Sisters of the Third Order of St. Francis. Headquartered in Peoria, Illinois, OSF HealthCare has 16 hospitals – 10 acute care, five critical access, 1 transitional care – with 2,131 licensed beds throughout Illinois and Michigan. OSF employs nearly 24,000 Mission Partners across 150+ locations; has two colleges of nursing; operates OSF Home Care Services, an extensive network of home health and hospice services; owns Pointcore, Inc., comprised of healthcare-related businesses; OSF HealthCare Foundation, the philanthropic arm for the organization; and OSF Ventures, which provides investment capital for promising health care innovation startups. In 2020, OSF OnCall was established, a digital health operating unit, including a hospital-at-home. OSF OnCall delivers care and services when, where and how patients prefer to receive them. OSF HealthCare has been recognized by Fortune as one of the most innovative companies in the country. More at osfhealthcare.org/.
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