MMA Renewable Ventures Closes $39 M in Solar Project Financing

MMA Renewable Ventures, LLC, a subsidiary of Municipal Mortgage & Equity, LLC (MuniMae), announced that it financed $39 million worth of new solar energy projects in the last quarter of 2006, and completed the year having financed six projects nationwide from its pipeline of more than eight megawatts (MW) of new renewable energy systems.

“The projects are diverse in terms of geographic location, regional incentives, technology deployment and end user requirements. One thing they have in common is an effective third-party finance solution tailored by MMA Renewable Ventures to fit their specific developer and customer needs,” said Matt Cheney, Chief Executive Officer of MMA Renewable Ventures. Located throughout California and New Jersey, the six mid- to large-scale photovoltaic systems financed in 2006 will deliver predictably priced electricity to three corporate and three municipal energy customers. MMA Renewable Ventures tailored the power purchase agreements (PPA) and lease arrangements to remove the upfront cost to the customers, in turn accelerating business for solar developer and installer partners.
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