Seminole Financial Services (“Seminole”) announced today the funding of a $2.65 million construction loan to SunStream Somerset Valley, LLC – a partnership between SunStream Partners and Clean Focus Corporation – to install solar panel arrays totaling 834.5kW at three YMCA locations in Somerset County, New Jersey. This will be the first project owned and developed by SunStream Partners, and the third project owned and developed by Clean Focus where Seminole has been a partner.
“The three YMCA locations include Bridgewater, Hillsborough and Somerville, New Jersey. Rooftop-mounted solar arrays will be installed at the Hillsborough and Somerville facilities, and carports will be designed and constructed for rooftop solar panel installation at the Hillsborough and Bridgewater locations. Due to the pitch of the roof at the Bridgewater YMCA, rooftop solar panels will only be positioned on this location’s new parking structure. All installations are expected to be completed and placed in service by Summer, 2012, and will deliver over 970,000 kWh of energy annually to the owner of the YMCAs, Somerset Valley YMCA, under a 15-year power purchase agreement.
For more information about this transaction or renewable energy financing, please contact Chris Diaz, Senior Vice President for Seminole Financial Services, at (727) 460-0578 or at
Seminole Financial Services, LLC (SFS) is the operating entity of the six companies that collectively make up the Seminole Companies (Seminole). SFS is responsible for originating, underwriting, servicing and providing asset management for the debt and equity investments originated for institutional investors managed by sister company, Seminole Advisory Services, LLC (SAS). SAS is a registered investment advisor with the SEC and presently has several hundred million dollars in assets under management. SFS provides debt and equity investments for commercial real estate and renewable energy transactions nationwide, specializing in short and intermediate term investments.
SunStream Partners (SunStream) develops, owns, operates and maintains custom solar installations for corporations, government entities, non-profit institutions, and commercial real estate developers by bringing together the resources of world class energy engineering firms, global solar integration firms, and institutional investors to develop renewable energy projects for clients interested in reducing overall energy consumption, decreasing dependence on fossil fuel, and lowering the cost of energy to power their businesses and operations.
Clean Focus Corporation develops, finances, and operates solar-power installations in the commercial, government, and utility sectors. By working closely with independent developers and system integrators, Clean Focus identifies economically attractive solar projects and finances them through Power Purchase Agreements (PPAs) and long-term leases. Energy users benefit from turnkey, predictably-priced solar energy. Based in Silicon Valley, Clean Focus funds and executes projects with domestic and international sources of capital.