Client Success

Congratulations to our client, STAG Industrial, Inc., on the completion of the nation’s largest rooftop community solar project

December 2, 2021

Sherin and Lodgen congratulates our client, STAG Industrial, Inc. (“STAG”), on the completion of the nation’s largest rooftop community solar project in partnership with Summit Ridge Energy (SRE). The 9.2 MW solar project, operated by SRE and jointly-owned by climate investment firm, Hannon Armstrong, is located in Carroll County, Maryland on a large commercial warehouse owned by STAG.

Black Bear Energy facilitated the partnership between SRE and STAG, while Powerflex provided engineering, procurement, and construction services for the project. Once operational, the rooftop system will provide monthly energy savings to an estimated 1,300 homes and small businesses in the state.

The S&L team, led by partners Douglas M. Henry and Jennifer L. Ioli, represented STAG in the drafting and negotiating phases of the solar lease with SRE.

Read more on the project from SRE here.

The national Renewable Energy Practice Group at Sherin and Lodgen represents lenders, developers, municipalities, and companies committed to sustainability through solar, wind, hydro, and energy storage initiatives. Clients rely on our experience in financing, development, acquisition, leasing, environmental, and permitting to navigate this ever-changing market and accomplish their business goals. The group has experience assisting lenders in navigating the SMART program.

STAG Industrial, Inc. is a real estate investment trust focused on the acquisition and operation of industrial properties throughout the United States.

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.

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.