Seminole Financial Services reports that it has financed over 230 renewable energy projects, with the latest projects bringing it to 770 MW. These range from small scale utility solar, distributed wind and more than 50 community solar projects.
88% of the projects are solar power, while the remaining 12% are wind.
The total value of these projects sits at $1.48 billion. In August of 2014, the company announced breaking $500 million in finance for renewable energy, and in July of last year it announced breaking $1 billion.
Since the July announcement, Seminole has financed another $500 millon via 80 unique projects, 20 of which were community solar.
According to Seminole CEO Robert J. Banks:
This is an incredible milestone of which we are very proud. We are truly happy for the opportunity to have helped our borrowers make an impact on the renewable energy sector.
The group focuses on construction loans, mini-perm loans, developers loans and tax credit equity. It recently added the ability to offer long term debt through the USDA REAP Loan Guarantee Program.
Seminole aims for projects costing between $2 and $35 million, and project capacities ranges from 1 MW to 20 MW.
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