Seminole Financial Services announced today that with the closing of the 16 MW Camilla Solar Project located in Pelham, Mitchell County, Georgia, Seminole has successfully financed over 100 MW in renewable energy projects throughout the continental U.S. and Hawaii.
The Camilla Solar Project brings Seminole’s total construction loan financing to more than $300 million. Seminole has successfully closed seven projects over the past eight weeks totaling 33.6 MW, making 2nd Quarter, 2013 its most productive quarter to date. Projects include a 5 MW solar park in Hawaii, as well as several ground, rooftop and parking canopy solar arrays totaling over 7.2 4MW under development in New Jersey designed to bring solar electric power to area elementary, middle and high schools. Additionally, since its inception in 2009, Seminole has committed over $60.5 million to renewable energy projects through its permanent debt financing program.
The Camilla Solar Project is located on a 150-acre site, and a total of 69,680 Trina solar modules will be utilized to complete the ground-mounted system. Origis Energy has developed the project; they will also be the owner/operator. Origis Energy is a developer/owner of large-scale solar PV plants throughout the European Union and United States. On-site construction for this project has commenced, with installation expected to be completed and placed in service by late Fall of 2013. The solar installation will generate renewable energy to the electric grid through a 20-year Power Purchase Agreement with the Georgia Power Company.
Over the past four years, Seminole has financed nearly 50 renewable energy projects totaling 78.7MW of solar and 32.7MW of wind while focusing on transactions between $2 million and $30 million. On pace to exceed 2011 (12 deals) and 2012 (21 deals), Seminole has become a financing alternative for developers seeking funding for renewable energy projects. “This is an incredible and proud milestone for Seminole,” said Bob Banks, CEO of Seminole Financial Services. “We have worked diligently to provide the highest level of personalized service to owners and developers through our ‘family-like’ approach to doing business. This is a tremendous achievement not only for Seminole, but for the continued growth of the industry and the economic benefit it provides the end users.”
For more information about renewable energy financing, please contact Chris Diaz, Senior Vice President for Seminole Financial Services at (727) 460-0578 or firstname.lastname@example.org.
Seminole Financial Services, LLC (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 and permanent debt for below utility scale renewable energy projects. Transactions are generally between $2 million and $30 million in value.
In commercial real estate, Seminole has also provided over $200 million of debt and equity capital since 2009 for projects and partners in various property types including multi-family, student and senior housing, and redevelopment.
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