Summit Ridge Energy and Qcells Expand Historic U.S. Community Solar Partnership with 2 GW Commitment

• Summit Ridge Energy and Qcells expand existing partnership to provide the benefits of clean energy to an estimated 200,000 homes and businesses • Qcells will produce the majority of solar panels at its US manufacturing facility in Georgia

Arlington, VA (June 20, 2024) - Summit Ridge Energy, the nation's leading commercial solar company, announced today that it has significantly expanded its partnership with Qcells, a top provider of domestically manufactured clean energy solutions. The partnership includes a commitment by Summit Ridge to purchase 800 megawatts (MW) of additional solar panels from Qcells to support the organization's growing development pipeline.


The agreement builds on an existing 1.2 gigawatts (GW) relationship between Qcells and Summit Ridge, announced in April of 2023 by Vice President Kamala Harris. By increasing the total commitment to an impressive 2 GW - the largest domestic community solar purchase in history - Summit Ridge will develop more than 100 additional community solar projects across the country. When complete, Summit Ridge's aggregate fleet of solar farms will generate enough clean energy to power an estimated 200,000 homes and businesses, further cementing its industry-leading position.

The majority of the solar panels purchased by Summit Ridge will be produced in Qcells' new U.S. manufacturing facility located in Georgia[MS1]. The expanded relationship between both organizations is supported by the Inflation Reduction Act (IRA), which includes landmark tax incentives for domestic energy production and manufacturing. Summit Ridge and Qcells were the first to enter into domestic manufacturing agreements under the IRA. Additionally, Qcells will continue to provide Summit Ridge with battery storage and software solutions under separate procurement agreements.

In addition to supporting domestically manufactured solar infrastructure and job creation, the Solar Energy Manufacturing for America Act included in the IRA is playing a key role in Qcells' plans to deliver a fully integrated domestic supply chain supporting companies like Summit Ridge during times of uncertainty caused by tariffs and global supply chain constraints.

Many of Summit Ridge's solar projects also qualify for IRA tax credits that will provide thousands of low-income households with greater access to clean energy savings.

"We are excited to expand our partnership with Qcells, which enables Summit Ridge to deliver on our promise of giving more Americans the opportunity to power their homes and businesses with locally generated clean energy," said Brian Dunn, Chief Operating Officer of Summit Ridge Energy. "Through our Qcells partnership, we are able to support domestic manufacturing and job creation, while simultaneously bringing low-cost clean energy to communities that have historically been left out of the clean energy transition."

"Expanding this relationship with Summit Ridge Energy means more communities will have access to the most affordable energy resource in the world," said Justin Lee, CEO of Qcells. "This partnership not only supports the domestic manufacturing industry and thousands of jobs in solar, but it also ensures more people - especially those who have historically been left out - benefit from everything the clean energy economy has to offer."


About Summit Ridge

As the nation's leading commercial solar company, Summit Ridge Energy merges financial innovation and industry-leading execution to deliver clean, locally
generated energy. This has made Summit Ridge one of the fastest-growing energy companies in America. Since launching in 2017, the company has deployed over $2.6B into clean energy assets and controls a development pipeline of more than 3GW that will provide solar power to homes and businesses nationwide. Learn more at srenergy.com and connect with us on LinkedIn.

About Qcells

Qcells is one of the world's leading clean energy companies, recognized for its established reputation as a manufacturer of high-performance, high-quality solar cells and modules, portfolio of intelligent storage systems, and growing international pipeline of large-scale renewable energy projects. Qcells also provides renewable electricity retail services and packages to end customers across the world. The company is headquartered in Seoul, South Korea (Global Executive HQ) with its diverse international manufacturing facilities in the U.S., Malaysia, and South Korea. Qcells offers Completely Clean Energy through the full spectrum of photovoltaic products, storage solutions, renewable electricity contracting and large-scale solar power plants. Through its growing global business network spanning North America, Europe, Asia, South America, Africa and the Middle East, Qcells provides excellent services and long-term partnerships to its customers in the utility, commercial, governmental and residential markets. For more information, visit: www.Qcells.com/us.

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