Seminole Financial Services, LLC (“Seminole”) capped off a very active year by closing on 13.25MW of Renewable Energy financing projects during the final month of 2011. The three wind and one solar installations represent over $32 million in construction financing. In 2011, Seminole closed $88 million of construction loans and another $25 million of permanent loans, for a total of $113 million of Renewable Energy lending. Seminole has closed nearly $150 million in construction financing and permanent debt financing for solar and wind transactions since 2009.
Seminole’s focus is on wind and solar transactions between $2 million and $30 million for a term of 12 months or less. Seminole’s first project, which closed in December 2009, was funding the Coastal Community Action Program (“CCAP”) in Grayland, Washington. The 6MW, four turbine project provides electricity for the local utility and generates income for CCAP, a non-profit social services agency that administers many programs for low income families in the Grayland region.
Seminole’s portfolio includes construction finance of one of the largest rooftop installations in the State of Florida, a 2.2MW solar project at the Butler Plaza in Gainesville. Seminole has also completed loans for projects as small as 500kW, including a rooftop solar installation in Hamilton Twp., New Jersey. 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.
Seminole’s Commercial Real Estate arm also experienced an exceptional year – committing nearly $75 million in debt and equity financing over the past 12 months.
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.