Seminole Financial Services announces the financing of a construction loan to fund the six-turbine Fairfield Wind Project located in the City of Fairfield, Teton County, in northwestern Montana.
The Project will have a total installed capacity of 10 MW, and is anticipated to be placed-in-service in June 2014. Once complete, it is expected to generate over 36 million kilowatt-hours of electricity per year. The entire output will be sold to Northwestern Energy to distribute to its customers by the current owner and developer, Foundation Windpower (“FWP”). The Fairfield Wind Project marks the largest project developed by FWP, and the first project FWP has developed outside of the State of California.
“The Fairfield Wind Project represents the 12th and largest wind financing project we have completed with Foundation Windpower,” said Seminole Senior Vice President, Chris Diaz. “FWP’s experience in renewable energy development and our longstanding relationship with Matt Wilson and John Pimentel not only demonstrate Seminole’s philosophy of executing good deals with good people, it also confirms Seminole’s commitment to allocating funds throughout the country in order to advance cost-effective energy to the nation’s grid.”
Since 2009, Seminole has closed over 144MW totaling nearly $460 million in construction financing and permanent debt financing for solar and wind transactions. 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 Renewable Energy transactions. For more information about Seminole Financial Services’ renewable energy financing, please contact Chris Diaz, Senior Vice President, at (727) 460-0578.
Seminole Financial Services (SFS) originates debt and equity real estate investments throughout the country for institutional investors. SFS has demonstrated the ability to respond to changing markets and, in addition to traditional commercial real estate, has become a national leader in providing construction/interim and permanent debt financing for below utility scale renewable energy projects. Transactions are generally between $2 and $30 million in value.
Based in Belleair Bluffs, Florida, SFS is the operating entity of six companies that collectively make up the Seminole Companies. 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. Information is available at www.SeminoleFinancialServices.com
Headquartered in Menlo Park, California, Foundation Windpower (formerly Energy Alchemy, LLC) is based on the belief that our economy and environment depends on delivering cost-effective electricity with little negative environmental impact. The entire team is committed to meeting the needs of its customers and the environment. More information is available at www.FoundationWindPower.com