Belleair Bluffs, FL – July 15, 2011
Seminole Financial Services, LLC (“Seminole”) announced today the funding of a $19.0 million construction loan for REgeneration Finance to construct and install over 3 MW of photovoltaic systems at seven (7) different elementary schools in the Buckeye Elementary School District, located approximately 30 miles west of Phoenix in Maricopa County, Arizona. Once construction is completed by late 2011, Seminole will also provide permanent financing for the project. The total project cost for this transaction is approximately $25 million.
REgeneration Finance, LLC is a privately held corporation which focuses on financing the development and ownership of solar systems that supply electricity to municipalities, schools, universities, and commercial off-takers.
This is the second school district Seminole and REgeneration have partnered on, the first a $19 million project in Douglas County, Colorado. “REgeneration Finance is committed to making available distributed generation solar projects for schools across the country. This will reduce the strain on operating budgets and the importation of foreign oil, and increase electricity generation from environmentally friendly sources. Thanks in large part to help we have had and continue to have, from Seminole Financial for making these projects a reality. Seminole Financial and their financial partners are making parents and taxpayers aware of how being good citizens can reduce taxes. We are proud that we have this friendship, and look forward to a bright future together,” said Laurence Friedman, CEO of REgeneration Finance.
“Seminole Financial Services likes to invest time getting to know a partner and then doing multiple projects with them. This is the first construction and permanent loan we have provided for a renewable energy project and we were very comfortable doing it with ‘REgen’ because of our knowledge and respect of Laurence and his team,” stated Robert Banks, CEO and Chairman of the Seminole Companies. Chris Diaz, Sr. Vice President of Seminole with oversight of its Renewable Energy Finance, added, “We will take the knowledge gained from our efforts on this project and plan not only to do more work with REgeneration Finance, but to establish a comprehensive program with construction and permanent financing for the industry.”
For more information about this installation 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.
REgeneration Finance is an experienced developer of solar energy systems, providing solar power to municipal, commercial and non-profit entities. Through a financial structure that fully utilizes various federal and state benefits, REgeneration Finance allows its clients to receive all the financial and social benefits of renewable energy, including lowering their cost of electricity and reducing their carbon footprint, with no initial capital investment. Its customers typically receive substantial savings over what they would have otherwise paid to their respective utilities. REgeneration Finance is a full service financing partner, capable of providing its projects with construction and term debt, tax equity and equipment procurement.
For more information please contact Nick Addivinola at (914) 777-2224 or at