MMA Capital Management, LLC (NASDAQ: MMAC) ("MMA Capital Management" or the "Company"), a Delaware limited liability company, today announced that its subsidiary, MMA Energy Capital, LLC ("MMA Energy Capital"), has closed a construction loan with one of the largest renewable developers in the world to finance the construction of a solar power project to provide power to the subsidiary of a NASDAQ 100 company located in Puerto Rico.
"Solar continues to grow in Puerto Rico given the extremely high cost of power and the desire to move away from diesel generation. While the Puerto Rico government has had some credit challenges, the private sector remains a robust market with limited credit risk for the right power buyers, and this is where we've focused our solar lending activities," Bob Hopper, Managing Director of MMA Energy Capital stated.
Kevin Panzica, Vice President, MMA Energy Capital added, "Electricity costs in Puerto Rico exceed thirty cents a kilowatt hour for business customers and solar is increasingly becoming not only a mechanism for real cost savings but also a hedge against future cost escalations for private companies."
About MMA Energy Capital
MMA Energy Capital provides custom solutions around construction debt and development capital for renewable energy projects that enable its customers to effectively develop and build world class projects through access to efficiently placed capital.
For more information on MMA Energy Capital, please contact Bob Hopper at Bob.Hopper@MMAEnergyCapital.com, or visit our website, www.mmaenergycapital.com.
Forward-looking statements reflect our management's expectations at the date of this Release regarding future conditions, events or results. They are not guarantees of future performance. By their nature, forward-looking statements are subject to risks and uncertainties. Our actual results and financial condition may differ materially from what is anticipated in the forward-looking statements. There are many factors that could cause actual conditions, events or results to differ from those anticipated by the forward-looking statements contained in this Release. These factors include changes in market conditions that affect the willingness of potential investors or lenders to provide us with debt or equity, changes in market conditions that affect the value or marketability of assets we own, changes in market conditions or other factors that affect our access to cash that we may need to meet our commitments to other persons, changes in interest rates or other conditions that affect the value of mortgage loans we have made, changes in interest rates that affect our cost of funds, tax laws, environmental laws or other conditions that affect the value of the real estate underlying mortgage loans we own, and changes in tax laws or other things beyond our control that affect the tax benefits available to us and our investors. Readers are cautioned not to place undue reliance on forward-looking statements. We have not undertaken to update any forward-looking statements in this Release.
MMA Energy Capital Closes Solar Construction Loan in Puerto Rico
Kevin Panzica, Vice President, MMA Energy Capital added, "Electricity costs in Puerto Rico exceed thirty cents a kilowatt hour for business customers and solar is increasingly becoming not only a mechanism for real cost savings but also a hedge against future cost escalations for private companies."
About MMA Energy Capital
MMA Energy Capital provides custom solutions around construction debt and development capital for renewable energy projects that enable its customers to effectively develop and build world class projects through access to efficiently placed capital.
For more information on MMA Energy Capital, please contact Bob Hopper at Bob.Hopper@MMAEnergyCapital.com, or visit our website, www.mmaenergycapital.com.
Cautionary Statement Regarding Forward-Looking Statements
This Release contains forward-looking statements intended to qualify for the safe harbor contained in Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements often include words such as "may," "will," "should," "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "seek," "would," "could," and similar words or are made in connection with discussions of future operating or financial performance.Forward-looking statements reflect our management's expectations at the date of this Release regarding future conditions, events or results. They are not guarantees of future performance. By their nature, forward-looking statements are subject to risks and uncertainties. Our actual results and financial condition may differ materially from what is anticipated in the forward-looking statements. There are many factors that could cause actual conditions, events or results to differ from those anticipated by the forward-looking statements contained in this Release. These factors include changes in market conditions that affect the willingness of potential investors or lenders to provide us with debt or equity, changes in market conditions that affect the value or marketability of assets we own, changes in market conditions or other factors that affect our access to cash that we may need to meet our commitments to other persons, changes in interest rates or other conditions that affect the value of mortgage loans we have made, changes in interest rates that affect our cost of funds, tax laws, environmental laws or other conditions that affect the value of the real estate underlying mortgage loans we own, and changes in tax laws or other things beyond our control that affect the tax benefits available to us and our investors. Readers are cautioned not to place undue reliance on forward-looking statements. We have not undertaken to update any forward-looking statements in this Release.
MMA CAPITAL MANAGEMENT: PERFORMANCE BUILT ON INTEGRITY, INNOVATION & SERVICE.
www.mmacapitalmanagement.com
www.mmacapitalmanagement.com
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