Seminole Equity Partners (“SEP”) announced today that it has closed on two new tax equity transactions, enabling the funding of approximately $25 million worth of solar systems in the State of North Carolina. The North Carolina transactions represent the first such tax equity financing investment between SEP and FLS Energy, a full service solar energy provider which owns and operates a portfolio of solar energy assets throughout the U.S. and headquartered in Asheville, North Carolina.
Under the agreement, the transactions will benefit from the Federal Energy Investment Tax Credit (“ITC”) and North Carolina State Energy Tax Credits. Further terms of the tax equity financing were not disclosed.
This announcement reflects SEP’s long term commitment to clean energy and follows on the heels of the partnership formed between Seminole Financial Services, LLC and Round Rock Partners, LLC to collaborate on a “One Stop Shop” business model to provide both debt and equity financing. SEP’s principals have pioneered a variety of structures in the debt and tax equity markets and together have financed tax-incented projects totaling more than $1 Billion.
Seminole Equity Partners (SEP) offers tax credit investments to widely held corporations, banks, and insurance companies. The firm provides advisory services that include structuring, deal sourcing, asset management, fund management and underwriting to tax equity investors looking for projects that qualify for the Investment Tax Credit under Internal Revenue Code §48. SEP provides tax equity solutions to complement the debt financing that Seminole Financial Services has traditionally offered.
The Principals at Seminole Equity Partners created one of the nation’s first syndicated tax equity funds and have combined to finance a variety of tax-incented projects representing more than $1 billion. Information is available at www.seminoleequitypartners.com
FLS Energy (FLS) is a full service solar energy provider that owns and operates a portfolio of solar energy assets throughout the U.S. The FLS development team takes projects from conception to commissioning and offers complete in-house system design, engineering, construction, financing and turnkey project development. FLS Energy’s mission is to make solar mainstream. FLS is committed to building a scalable and sustainable business model that values the contributions of each of its employees while remaining good stewards of the world. To learn more about FLS Energy, please visit www.flsenergy.com