Summit Ridge Energy Announces Solar Energy Agreement with Digital Realty to Power Data Centers in Illinois
Calvert – Speedway Solar Facility
ARLINGTON, VA, May 22, 2025 (GLOBE NEWSWIRE) -- Today, Summit Ridge Energy, the nation's leading commercial solar company, announced a partnership with Digital Realty (NYSE: DLR) to purchase 5.1 megawatts (MW) of solar energy. With this purchase, Digital Realty – the largest global provider of cloud- and carrier-neutral data center solutions – will advance its sustainability objectives while delivering energy cost savings. This agreement includes both savings on energy costs and the purchase of renewable energy credits produced by three Summit Ridge-owned and operated commercial solar projects in Illinois. These projects are expected to be energized and interconnected with Commonwealth Edison by late 2025 to early 2026. This partnership enables Digital Realty's Northern Illinois-based data centers to offset a portion of their energy consumption. Additionally, the newly constructed solar projects will help enhance grid resilience across Illinois while supporting economic development through the creation of hundreds of construction and manufacturing jobs. CBRE is Digital Realty's community solar advisor and assisted in the selection of Summit Ridge based on its community solar expertise and advanced project development status.
'At Digital Realty, we are committed to advancing sustainable energy solutions that align with our global carbon reduction goals,' said Aaron Binkley, Vice President of Sustainability at Digital Realty. 'Collaborating with Summit Ridge Energy supports our efforts to integrate more renewable energy into our operations while also contributing to a more resilient power grid in Illinois.'
'Digital Realty's commitment to purchasing solar energy highlights the growing importance of leveraging alternative energy solutions in industries that depend on reliable power. With this agreement, we're building a diversified, stronger grid while delivering tangible benefits to businesses,' said Marc Fioravanti, Senior Vice President of Business Development at Summit Ridge Energy. 'This partnership illustrates that solar is playing an important role in the dramatic growth of the energy needs of technology companies, including those driven by AI and increased data processing.' These projects are part of a larger initiative by Summit Ridge to support enhanced grid stability through benefits like voltage support and frequency regulation, further strengthening the local electric system. The three distributed solar farms powering Digital Realty are part of Summit Ridge's 439 MW Illinois fleet of solar assets, the largest in the state where the company has established itself as the market leader with over $3.1 billion in commercial investments made to date.
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 2 GW of solar power operating and in development.
Since launching in 2017, Summit Ridge has raised over $5B in project capital to finance 200+ solar farms, providing energy savings to more than 42,000 homes and businesses while contributing to American energy independence. Learn more at srenergy.com and connect with us on LinkedIn.
About Digital Realty Digital Realty brings companies and data together by delivering the full spectrum of data center, colocation and interconnection solutions. PlatformDIGITAL®, the company's global data center platform, provides customers with a secure data meeting place and a proven Pervasive Datacenter Architecture (PDx®) solution methodology for powering innovation and efficiently managing Data Gravity challenges. Digital Realty gives its customers access to the connected data communities that matter to them with a global data center footprint of 300+ facilities in 50+ metros across 25+ countries on six continents. To learn more about Digital Realty, please visit digitalrealty.com or follow us on LinkedIn and X.
Attachment
Calvert – Speedway Solar Facility
CONTACT: Antonya Asante Summit Ridge Energy 347-723-7231 press@srenergy.com Business Development business@srenergy.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
28 minutes ago
- Yahoo
Maine Trust for Local News workers rally to expand their union
Workers and union organizers walk out of the Portland Press Herald offices in South Portland, Maine on Tuesday, Aug. 19, 2025, to attend a rally in support of expanding their union to cover reporters at other publications run by the Press Herald's parent organization, the Maine Trust for Local News. (Photo by Troy R. Bennett/ Maine Morning Star) About three dozen reporters, photographers, page designers and union activists gathered on a brown lawn adjacent to the Portland Press Herald offices and printing plant Tuesday morning to announce their drive to unionize news workers at all of the Maine Trust for Local News' weekly and daily paper operations around the state. The News Guild of Maine, which is affiliated with the Communications Workers of America, already represents about 150 workers at the Trust's papers and aims to include the 50 or so remaining non-union jobs at the Sun Journal in Lewiston, The Times Record in Brunswick and the Trust's 17 weekly publications. Workers at the daily Kennebec Journal are represented by a separate branch of the CWA and are in the process of merging with the guild. 'More than 70% of those [50 non-union] workers have signed union authorization cards,' said Megan Gray, president of the News Guild of Maine. On Monday, the guild filed a petition with the National Labor Relations Board seeking voluntary union recognition for those workers. The guild has marked the effort as a drive for 'One Big Union.' The nonprofit Trust is the state's largest network of independent news and media outlets. It's a subsidiary of the Colorado-based National Trust for Local News. Management at the Trust has yet to respond to union demands. Messages seeking comment were not immediately returned. Speakers at the union rally expressed concerns about huge pay disparities between publications within the Trust, lack of job security and dwindling local content as papers are forced to work with fewer reporters and share non-local stories. Paul Bagnall, an experienced reporter at The Times Record, said as a non-union worker he makes $18 per hour while starting reporters at the Press Herald earn a minimum of $28.75 per hour. 'With the cost of living going up, my paycheck has already stretched to a breaking point,' Bagnall said. 'I am currently priced out of potential sources of information — going out to events, restaurants and cafes due to the cost of living — and it's still rising.' Joe Lawlor, a longtime Press Herald reporter, called Bagnall's pay shameful. 'We can do better,' Lawlor said. Sophie Burchell, a non-union reporter at the Trust's southern Maine community news division, said her job is unfairly seen as a stepping stone, rather than a sustainable career. 'I want it to be seen as a place people can grow and thrive,' Burchell said. 'I want to see my peers and their talents thrive in Maine journalism.' Kendra Caruso, an education writer at the Sun Journal, said the Trust isn't living up to its own journalism mission. 'Its stated goal is to prevent news deserts across the nation. However, changes the company implemented early this year, including staff layoffs, have only increased the risk of more news deserts in Maine and decreased the amount of local news coming out of our newsrooms across the state,' Caruso said. Gray said there was no way for the Trust to continue to support local journalism without first supporting its local journalists. 'We're expanding our union because we know that we must invest in our workers in order to invest in the future of journalism,' she said. SUPPORT: YOU MAKE OUR WORK POSSIBLE Solve the daily Crossword
Yahoo
28 minutes ago
- Yahoo
Walmart's earnings report will test investor confidence in US market
By Siddharth Cavale NEW YORK (Reuters) -Investors expect Walmart's management to strike a cautious tone on customer demand as the U.S. labor market cools and inflation ticks up, though the company has outperformed its peers over the last year due to its reliance on grocery sales and wealthier customers shopping there more often. Still, analysts say this environment is a sweet spot for Walmart, which reports second-quarter results on Thursday before markets open. Its low-price model and dominance in grocery can help it weather economic storms better than others. The world's largest retailer by sales has surpassed earnings estimates for 11 consecutive quarters, according to LSEG data, sending its valuation soaring even as other consumer staples companies have struggled this year. The Arkansas-based chain's stock has gained nearly 37% in the last 12 months, one of the notable non-tech companies leading a market that has largely sloughed off the effects of U.S. President Donald Trump's ongoing trade war. The broader Consumer Staples sector is up 4.5%, trailing the broad-market S&P 500. The company's May-to-July results are the most closely watched event among this week's retail earnings, following Tuesday's results from Home Depot and Wednesday's reports from Lowe's and Target. Its significance goes beyond retail; as one of the largest and most recognizable companies in the U.S., Walmart is viewed as a barometer for the state of the U.S. consumer. "Walmart essentially is middle America, so I'll be looking for cues from Walmart as to the health of the broader economy," said Charles Sizemore, a Walmart investor. U.S. shoppers remain resilient despite declining sentiment, but they are being increasingly selective about purchases and have shown signs of trading down. RBC Capital Markets analyst Steven Shemesh cautioned that Walmart may adopt a more cautious tone heading into the second half. "The million-dollar question at this point is how customers respond to higher prices. We have seen some higher prices to date, and the consumer has managed through them OK, and we haven't seen a material impact to volume. But I don't think they're very widespread price increases at this point where the consumer has really noticed," Shemesh said. Home Depot missed estimates for quarterly revenue and profit, but kept its annual forecasts intact on Tuesday. Walmart's forward price-to-earnings ratio currently stands at 35.7, compared with an average of 25.5 over the past five years, suggesting investors expect growth. Its market value has soared to about $800 billion, per LSEG Datastream. Investors and analysts expect the retailer to report earnings of 74 cents a share, up nearly 11% from a year ago, and revenue of $176.16 billion, up 4%. Sales fell slightly short of expectations in Walmart's last quarter, but July's retail sales report bolstered analysts' confidence in current spending trends. "July's data showing retail sales grew faster than inflation tells me that the consumer is still spending and unit counts are up," said D.A. Davidson analyst Michael Baker. Reuters' global tariff tracker shows at least 92 out of nearly 300 companies have announced price hikes in response to the trade war, with about one-third from the consumer sectors. That includes Tide detergent and Bounty paper towels maker Procter & Gamble, a top Walmart supplier. "Third quarter is the make-or-break quarter, really, where the higher prices ... are going to be passed along in a more broader way than what we are seeing now," Shemesh said.
Yahoo
40 minutes ago
- Yahoo
Viking Therapeutics stock falls 37% on high dropout rate in obesity trial
-- Viking Therapeutics (NASDAQ:VKTX) stock plunged as much as 37% Tuesday after revealing results from its Phase 2 VENTURE-Oral Dosing trial for its oral obesity treatment, while Eli Lilly (NYSE:LLY) shares gained 1.5% as analysts pointed to competitive advantages. The trial demonstrated that Viking's oral tablet formulation of VK2735, a dual GLP-1 and GIP receptor agonist, met its primary endpoint with patients losing up to 12.2% of body weight after 13 weeks compared to 1.3% for placebo. Despite the weight loss efficacy, the 28% treatment discontinuation rate among patients receiving VK2735 versus 18% for placebo raised significant concerns among investors and analysts. Mizuho analyst Jared Holz highlighted competitive disadvantages compared to Eli Lilly's offerings: "Data look inferior to LLY on almost all metrics and the thing to consider here is that patients discontinued at such a high rate over 13-weeks vs. LLY in the mid 20% range --- but over 72-weeks; A much longer trial, and therefor LLY looks far better head-to-head. This probably shutters hope for VKTX a bigtime player in the oral obesity market over the near to medium term." JPMorgan (NYSE:JPM) analyst Hardik Parikh offered a more balanced view, noting, "In 13 weeks, the three highest-dosing arms of 60/90/120mg showed avg pbo-adj weight loss of ~7.5%, 10%, 11%, which we think is very strong compared with other orals in development. Tolerability overall was manageable, but it was worse than we expected based on the ph1 performance." Parikh added that while the adverse event profile wasn't as clean as in Phase 1 trials, "we still think oral vk-2735 offers strong efficacy with a manageable tolerability profile." Viking reported that 99% of gastrointestinal-related adverse events were mild or moderate. The company also highlighted an exploratory maintenance dosing arm showing weight loss could be maintained at lower doses. The major adverse events included vomiting rates of 20-35% in the three highest dose arms compared to about 10% for placebo, and nausea rates of approximately 58% for patients on treatment versus 48% for placebo. Related articles Viking Therapeutics stock falls 37% on high dropout rate in obesity trial Tesla robotaxi trial impresses, pricing power clear: William Blair Palo Alto Networks gains after strong earnings and Bank of America upgrade
