MMA Energy Capital, LLC (“MMA Energy Capital” or the “Company”), a Maryland limited liability company and wholly-owned subsidiary of MMA Capital Management, LLC (NASDAQ: MMAC), today announced that it has reached nearly $400 million in originations of renewable energy investments for the joint ventures it manages, and its own account, since its inception two years ago with volume in 2016 more than tripling 2015 origination volume.
MMA Energy Capital is focused primarily on development, construction and permanent debt capital for solar and wind projects and has the ability to underwrite transactions varying in size from $2 million to over $100 million. Since its founding, MMA Energy Capital has originated investments in California, Utah, Colorado, Texas, Minnesota, North Carolina, South Carolina, Maryland, New York, New Jersey and Massachusetts. Loan origination proceeds were used for traditional construction related activities such as procurement and labor, as well as interconnect deposits, land acquisition, utility deposits and security and other development related uses and, in some cases, provided project partners back leverage on operating assets through a five year term structure.
“There continues to be a great need for construction and development capital for solar projects in the U.S. and we are very happy to have the opportunity to serve that need for our customers,” stated Bob Hopper, MMA Energy Capital’s Managing Director. “While the solar market grows our customer’s needs for flexible capital are increasing almost daily and MMA Energy Capital and its investor partners have a large amount of capital to put to work in the space,” added Hopper.
In order to support the continued growth in our underwriting capabilities, as well as deal analysis and asset management, the Company also added two employees, Joshua Turner and Jane Colton Black, to its recently opened office in Park City, Utah.
