Seminole Financial Services, LLC announced today the funding of a $7.5 million construction loan to develop and install a 4.52 MW ground-mounted, fixed-tilt solar array situated in Bunn (Franklin County), North Carolina.
Located approximately 25 miles northeast of Raleigh, the project – known as Progress Solar I – will be directly connected to an existing three-phase power line across the street from the site. The project management team, North Carolina-based O2 energies, Inc., has developed more than 70 solar installations along the East Coast. Plans call for Progress Solar I to be operational by this fall and to produce more than 6.2 million kWh of energy in its first full year.
“Progress Solar I is our second solar project with Joel Olsen and his talented team at O2 energies. We are pleased to once again be part of their efforts to deliver renewable energy to the region,” said Robert J. Banks, CEO of Seminole Financial Services.
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 and $30 million in value.
SFS, based in Belleair Bluffs, Florida, 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
O2 energies, Inc. develops, owns, and operates a growing portfolio of large scale ground-mounted solar power plants in the U.S. Southeast. Each solar project is developed to maximize profitability for investors, work opportunities for local contractors, as well as training and educational opportunities for local communities. O2 energies leverages an in-depth understanding of state energy policy, the existing energy infrastructure, project ownership and tax structuring, combined with utility relationships to develop successful and profitable solar power plants.