Seminole Financial Services (“Seminole”) continues to establish itself as a national leader in Renewable Energy lending by closing on five separate solar projects during First Quarter, 2012. The projects included ground mounts, roof-top mounts, and parking canopies ranging in size from 600kW to 2.4MW. Construction lending on the five projects totaled $13.8 million. First Quarter 2012 activity backs up a very active 2011, when Seminole closed $88 million of construction loans and another $25 million of permanent loans for a total of $113 million of Renewable Energy lending. Since 2009, Seminole has closed over $162 million in construction financing and permanent debt financing for solar and wind transactions.
The five First Quarter loan closings were on projects located in New Jersey (2), North Carolina (2) and Oregon. “We have no bias where we establish our relationships,” said Seminole Senior Vice President, Chris Diaz. “We have closed 20 loans in eight states over the past 18 months beginning Fourth Quarter, 2010. We have a very knowledgeable team that can execute good deals with good people all over the country.”.
Seminole focuses on wind and solar transactions between $2 million and $30 million for a term of 12 months or less. In 2011, Seminole began a pilot permanent financing program for select projects while also making a commitment to tax equity syndication in 2012 as part of an initiative to become a “one stop” source for all aspects of capital needs for Renewable Energy transactions.
For more information about Seminole Financial Services’ renewable energy financing, please contact Chris Diaz, Senior Vice President, at (727) 460-0578. For all other financing inquiries with Seminole Financial Services, please contact Ron Campbell, Executive Vice President, at (727) 331-8441.
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.