BALTIMORE, Feb. 14, 2017 /PRNewswire/ -- 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.
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.
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.
SOURCE MMA Energy Capital, LLC