Seminole Financial Services

Seminole Financial Services and Nautilus Solar Announce Completion of 1,360 kW Project for the Lindenwold Board of Education

seminole — Tue, 05 Feb 2013 10:00:46 +0000

Summit, NJ – February 5, 2013 –

Nautilus Solar Energy (“Nautilus Solar”), a leading independent solar power producer, announces completion of a 1,360 kW solar photovoltaic system located in Lindenwold, New Jersey. The project is on the rooftop and parking lots of the Lindenwold High and Middle School as well as two elementary Schools in the district.

The power produced by the system will be sold to the Board of Education under a 15-year Power Purchase Agreement. The Solar Renewable Energy Credits (“SRECs”) will be purchased by Atlantic City Electric under a 10-year contract. This project is the first of a series of projects to be financed by Seminole Financial Services, LLC (“Seminole”). “We are pleased to partner with Seminole on this project and look forward to expanding the relationship beyond traditional project financing,” said Laura E. Stern, President of Nautilus Solar. “We are impressed with the leadership and vision of the whole Nautilus team.” said Chris Diaz, Executive Vice President for Seminole. “The Nautilus team made the whole process of providing construction and permanent financing to the Lindenwold project a good experience. We look forward to expanding our partnership on additional projects in their pipeline in the very near future.”.

For more information about Seminole Financial and renewable energy financing, please contact Chris Diaz, Senior Vice President for Seminole Financial Services at (727) 460-0578 or cdiaz@seminolefinancialservices.com.

About Seminole Financial Services

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

About Nautilus Solar Energy

Founded in 2006, Nautilus Solar is a leading independent solar power producer headquartered in Summit, New Jersey. Nautilus Solar develops, constructs, finances, owns and operates distributed generation and utility-scale solar electric systems. The company sells its generated electricity through long-term power purchase agreements and has projects in NJ, CT, MD, CA, FL and Canada, with approximately 89 MW owned and managed. Nautilus Solar is majority-owned by an investment affiliate of Starwood Energy Group Global, LLC, based in Greenwich, Connecticut.

For more information, please contact David Munsky at (908) 795-3038 or visit our website at www.nautilussolar.com

5-MW Kalaeloa Renewable Energy Park Solar Plan Gains Environmental Approval

seminole — Thu, 10 Jan 2013 10:00:34 +0000

Honolulu, Hawaii – January 10, 2013 –

The Kalaeloa Renewable Energy Park solar project has received environmental assessment approval from the Commander, Navy Region Hawaii. The solar park will be comprised of 21,000 photovoltaic (PV) panels on 20 acres near Ewa Field, a former World War II era Marine Corps airstrip.

The concept of creating a solar energy project using overgrown, underutilized land began in 2009. The development team – Scatec Solar North America, Inc. and Hunt Companies – spent the following three years engaging and building consensus among numerous stakeholders. As a result of active listening, a unique design was selected that greatly minimizes ground penetrations, thus preserving the integrity of the land and diminishing the impact. Achieving the environmental approval milestone is a significant advance that brings additional clean energy closer to Oahu residents. In November 2012, the Public Utilities Commission approved the power purchase agreement between the independent power producer and Hawaiian Electric Company.

In early December 2012, the last piece of the development puzzle was added, an easement through an industrial site required for electrical grid interconnection. With all major hurdles cleared, construction is anticipated to begin in January 2013. Hanwha SolarEnergy America joined the development team in 2012 to provide financing and operate the facility for a 20-year period. With today’s technology, the useful life of the facility could extend to 40 years. “Hanwha SolarEnergy America is delighted to participate in the development of what will be one of the largest utility-scale solar projects in the state of Hawaii,” said Matthew McCullough, CEO of Hanwha SolarEnergy America. “We are partnering closely with all parties involved to make sure we meet environmental and local goals.”

The project will reduce Hawaii’s reliance on foreign oil and help the state meet its mandate to produce 40% of electricity used from clean, renewable sources by 2030. The 5-MW renewable energy project will generate power equivalent to that used by 1,000 homes in a year. “Not only will this project help Hawaii reduce its dependence on fossil fuels,” said Luigi Resta, CEO, Scatec Solar North America. “Working towards achieving a greener Hawaii is important for the future of our state.”

“We are pleased to get the go-ahead to make the Kalaeloa Renewable Energy Park project a reality and hope to be in operation by mid-2013,” said Steve Colon, president of Hunt’s Hawaii development division. “We are committed to environmental stewardship, energy efficiency and renewable energy.”

“This welcome project is another step toward protecting Hawaii’s economy and all our customers from the volatile price of imported oil,” said Robbie Alm, Hawaiian Electric executive vice president. “It will join other solar and wind farms as part of our effort to get all the renewable energy possible from Oahu, where we have the greatest demand but limited renewable resources.”

Based on U.S. Environmental Protection Agency (EPA) estimates, the solar farm will produce enough renewable power to prevent almost 11,000 tons of carbon dioxide emissions per year, the equivalent to removing 37,600 cars from Hawaii’s roads over the 20-year term of the agreement.

About Seminole Financial Services

Seminole Financial Services (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.

Just Energy Group, Inc. Announces Additional Financing Arrangements for its Solar Business

seminole — Wed, 02 Jan 2013 10:00:06 +0000

Toronto, Ontario – January 2, 2013 –

Just Energy Group, Inc. is pleased to announce its subsidiary’s solar business (“Hudson Energy Solar”) has entered into financing arrangements with Seminole Financial Services (“Seminole”) and US Bank’s investment arm, Firstar (“Firstar”). The initial funding is for several solar projects under development in New Jersey.

This financing arrangement will allow Hudson Energy Solar to complete the projects as well as utilize much of the tax incentives available for renewable energy projects.

As part of the financing, Seminole has provided construction financing of approximately $12 million and a debt facility of approximately $6.5 million, and Firstar has committed an aggregate investment of approximately $7 million with respect to the projects. The Seminole construction loan will be repaid from the proceeds of the permanent debt facility and the Firstar investment. The financing structure has the capability to be used to support additional solar projects, supporting the continued growth of Hudson Energy Solar.

Ken Hartwick, Just Energy’s President and CEO, states, “We are very pleased to have closed this funding arrangement and are excited for the continued development of our solar projects. These projects will provide clean, efficient, and reliable solar electric power to elementary, middle and high schools located in New Jersey.”

About Seminole Financial Services

About Just Energy Group, Inc.

Established in 1997, Just Energy is primarily a competitive retailer of natural gas and electricity. With offices located across the United States, Canada and, commencing in July 2012, the United Kingdom, Just Energy serves close to 2 million residential and commercial customers through a wide range of energy programs and home comfort services, including fixed-price or price-protected energy program contracts, the rental of water heaters, furnaces and air conditioners and the installation of solar panels. The Company’s JustGreen®products provide consumers with the ability to help them reduce the environmental impact of their everyday energy use. Just Energy is the parent to Amigo Energy, Commerce Energy, Hudson Energy, Hudson Energy Solar, National Home Services, Momentis, Tara Energy and Terra Grain Fuels.

For more information about Just Energy Group, please contact Ken Hartwick, President and Chief Executive Officer, at (905) 795-3557 or Beth Summers, Chief Financial Officer, at (905) 795-4206.

About Hudson Energy Solar

Hudson Solar provides commercial customers with the ability to receive solar power through panels installed on roof-tops or ground mounts in the States of New Jersey, Pennsylvania and Massachusetts.

For more information about Hudson Energy Solar, please contact Abe Grohman, Chief Executive Officer, at (845) 228-3405.

Seminole Financial Services and Enfinity America Corporation Partner to Install 5.4MW of Solar Energy Projects in 2012

seminole — Fri, 07 Dec 2012 20:00:14 +0000

Belleair Bluffs, FL – December 7, 2012 –

Continuing to expand its role as a national leader in financing of renewable energy construction projects, Seminole Financial Services announced today that it has recently closed on two renewable energy projects in late November with Enfinity America Corporation, bringing its total to five separate transactions with Enfinity this year.

The projects reflect the ability of Seminole to respond quickly to the needs of an established lending partner. The projects are very diverse: one project in New Jersey and four projects in California. They include a retail distribution center, two wastewater districts, an air traffic control facility, and a 10 building school district. The installations include rooftop, ground-mounted, solar trellis, and carports. In all, the projects reflect 5.4 MW of solar installations and $19 million in construction borrowings. To learn more about the specifics of each deal, go to www.SeminoleFinancialServices.com

Focusing on commercial solar and wind projects in the $2-to-$30 million range, Seminole has now provided financing for 18 projects and over 29 MW of solar and wind installations since the beginning of 2012 and 30 projects and over 70 MW of solar and wind installations in the past year and a half. Together with its permanent debt financing program, Seminole has committed over $220 million to Renewable Energy projects since its inception in 2009.

“We are in the relationship business,” said Bob Banks, CEO of Seminole Financial. “Renewable energy deals aren’t simple or cookie-cutter. Consequently, it is very important for us to get to know the people we are doing business with. We are impressed with the leadership and the efficiency Enfinity displays, and we look forward to doing more business with them in the coming months”.

“Seminole Financial has become an outstanding partner for us to access and meet our financing needs to allow us to have a tremendous year” said Enfinity’s Executive Vice President and Chief Financial Officer David S. Shipley. “When they tell you they can deliver, you know they will get the deal done”.

About Seminole Financial Services

Seminole Financial Services Finances Three Renewable Energy Projects in Past Week, and Will Far Surpass 2011 Total

seminole — Thu, 06 Sep 2012 16:00:07 +0000

Belleair Bluffs, FL – September 6, 2012 –

Seminole Financial Services announced today that the company has closed financing for three renewable energy projects in the past week. And with 14 construction loans so far this year, Seminole has already financed more installations than it did in all of 2011.

Seminole has now provided financing for 32 projects and over 67 MW of solar and wind installations. Together with its permanent debt financing program, Seminole has committed over $200 million to renewable energy projects since its inception in 2009. Focusing on projects in the $2 million to $30 million range, Seminole has financed renewable energy projects around the country at various municipalities, utilities, and school districts, as well as Walmart, BJ’s Wholesale Club, Safeway, and Anheuser-Busch. The projects have been located primarily on the east and west coasts of the United States, including Arizona, Colorado, Florida, Massachusetts, New Jersey, North Carolina, Oregon, Vermont and Washington.

This week’s closings included nearly 7 MW of projects, including a solar ground-mounted project at a waste water reclamation plant and two wind installations at separate locations for a global building materials manufacturer. All three projects are located in California.

Seminole Financial, which closed 12 deals in 2011, has become a financing alternative for developers seeking funding for renewable energy projects, thanks to a relationship-first mentality of making deals that work for all involved. “We are a relationship lender,” said Bob Banks, CEO of Seminole Financial. “Our growth and success can be traced to the amount of repeat business we have done with a number of developers.”

For more information about renewable energy financing, please contact Chris Diaz, Senior Vice President for Seminole Financial Services at (727) 460-0578 or cdiaz@seminolefinancialservices.com.

About Seminole Financial Services

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 $150 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.

Seminole Financial Services to Finance Construction of $3 million Solar Project in Sharon, Vermont

Zelen — Wed, 18 Jul 2012 12:00:21 +0000

Belleair Bluffs, FL – July 18, 2012 –

Seminole Financial Services, LLC announced today the funding of a $3 million construction loan to build and install a 2.2 MW ground-mounted solar array being constructed on 7.75 acres within the Sharon Commerce Park in Sharon, Vermont.

Known as SunGen Solar I, the project is located in Windsor County, approximately 35 miles south-southeast of the state’s capital in Montpelier, Vermont. The project will produce approximately 2.4-MWh in its first full year and is scheduled for completion at the end of this month.

“SunGen Solar I is our first solar project in the State of Vermont, and our first transaction with developer Talmage Solar Engineering,” said Robert J. Banks, CEO of Seminole Financial Services. “We are pleased to continue to grow and diversify into additional markets. We are also excited about establishing new relationships and look forward to doing additional business in Vermont and with Talmage.”

For more information about renewable energy financing, please contact Chris Diaz, Senior Vice President for Seminole Financial Services at (727) 460-0578 or cdiaz@seminolefinancialservices.com.

About Seminole Financial Services

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

Seminole Financial Services to Finance Construction of $5.5 million Wind Project for Walmart Distribution Center

Zelen — Tue, 17 Jul 2012 10:00:21 +0000

Belleair Bluffs, FL – July 17, 2012 –

Seminole Financial Services, LLC announced today the funding of a $5.5 million construction loan to build and install a 1.0 MW wind turbine to be constructed at the Walmart Distribution Center located in Red Bluff (Tehama County), California.

Known as Foundation Windpower-Walmart Red Bluff, the project is located approximately 120 miles north-northwest of Sacramento, and is expected to provide approximately 25 percent of the distribution center’s electricity. Plans call for installation of the single turbine to conclude by the end of this month, with a projected completion date set for mid-August.

“Walmart Red Bluff marks our eighth wind financing project with Foundation Windpower. Matt Wilson and John Pimentel have done a phenomenal job identifying partners to install efficient, cost effective wind turbines to offset organizations’ energy costs,” 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 cdiaz@seminolefinancialservices.com.

About Seminole Financial Services

About Foundation Windpower, LLC

Foundation Windpower (formerly Energy Alchemy, LLC) is based on the belief that our economy and environment depends on delivering cost-effective electricity with little negative environmental impact. The entire team is committed to meeting the needs of our customers and the environment. Information is available at www.FoundationWindPower.com

Seminole Financial Services to Finance Construction of $7.5 million, 4.5 MW Progress Solar Project in North Carolina

Zelen — Mon, 18 Jun 2012 16:00:21 +0000

Belleair Bluffs, FL – June 18, 2012 –

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 cdiaz@seminolefinancialservices.com.

About Seminole Financial Services

About O2 energies, Inc.

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.
www.O2energies.com

Seminole Financial Services Provides Financing for North Carolina’s Largest Municipal Solar Project

Zelen — Mon, 18 Jun 2012 15:00:21 +0000

Belleair Bluffs, FL – June 18, 2012 –

Seminole Financial Services, LLC announced today it will provide $1.8 million in permanent financing for Neuse River Solar Farm, the largest utility-scale solar installation on municipal property in the State of North Carolina. This will be the first loan to convert from construction to permanent debt under the Seminole renewable energy finance program. In September 2011, Seminole provided $4.3 million in construction financing for installation of the 1.3-megawatt ground-mounted solar system.

The Neuse River Solar Farm project is anticipated to generate approximately 1.7 million kilowatt-hours of electricity per year, and the output will be sold to Progress Energy Carolinas to distribute to its customers by the current owner and operator, NxGen Power of Charlotte (“NxGen”).

“There is a need for permanent debt on many renewable construction projects that we have under consideration,” said Seminole CEO Robert J. Banks. “We are proud of the success of the Neuse project, and anticipate allocating more capital to provide similar solutions that fill this void throughout 2012.”

For more information about renewable energy financing, please contact Chris Diaz, Senior Vice President for Seminole Financial Services at (727) 460-0578 or cdiaz@seminolefinancialservices.com.

For more information about NxGen Power, LLC please contact Michael Byrnes, President and CEO for NxGen Power, at mbyrnes@nxgenpower.com.

About Seminole Financial Services

About NxGen Power

NxGen Power, LLC is a developer and operator of renewable energy facilities. NxGen Power uses strategic partnerships and institutional investors to help utility, government, school and commercial customers meet their renewable energy goals without the upfront cost. The company works to educate and to provide customers the opportunity to harness the power of the sun through the use of solar energy and other innovative technologies.
www.nxgenpower.com

Seminole Financial Services Provides Construction Financing for El Paso, Texas Multifamily Apartment Complex

Zelen — Thu, 10 May 2012 15:00:21 +0000

Belleair Bluffs, FL – May 10, 2012 –

Seminole Financial Services, LLC announced today the closing of $9.1 million construction/interim financing for a proposed 108-unit multifamily apartment complex located in El Paso, Texas known as Villas at Helen of Troy. The project is comprised of six (6) three-story, walk-up, garden-style buildings, a 3,010 square foot clubhouse and 108,252 square feet of rentable space. In addition, the investment will provide the developer, Investment Builders, Inc., with resources to purchase and develop an adjacent parcel of land into Phase II of Villas at Helen of Troy. Phase II will consist of a 90-unit apartment complex with similar layouts as the first phase. The Villas of Helen of Troy marks the second project Seminole Financial Services and Investment Builders have successfully partnered together to develop and build.

“We are pleased to once again work with Ike Monty and Investment Builders, Inc. to extend our experience and deliver economic benefits to the community of El Paso,” said Bob Banks, Chief Executive Officer of Seminole Financial Services, LLC.

For information about this and other financing, please contact Ron Campbell, Executive Vice President for Seminole Financial Services at (727) 331-8441 or rcampbell@seminolefinancialservices.com.

About Seminole Financial Services

Seminole Financial Services, LLC (SFS) is the operating entity of the six companies that collectively make up the Seminole Companies (Seminole). 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. SFS provides debt and equity investments for commercial real estate and renewable energy transactions nationwide, specializing in short and intermediate term investments.
www.seminolefinancialservices.com

About Investment Builders, Inc.

Investment Builders, Inc. (IBI) is primarily engaged in real estate investment and development, construction, operation, and management of residential properties throughout Texas, New Mexico, and Arizona. IBI’s qualified development team of approximately 50 employees has over 30 years experience in the construction and real estate industry and handles all aspects of the development process. To date, the company has participated in the development of more than 8,000 multifamily, senior, and military family housing units for either its own portfolio or for other third party investors, including approximately 2,500 units currently owned and managed by IBI Property Management.
www.ibitoday.com