BALTIMORE, MD — MMA Energy Capital has closed a $55 million financing facility with Coenergy through its joint venture with Fundamental Advisors, to be used for the construction of its 36 megawatt North Carolina solar portfolio.
Conergy will build, own and operate this portfolio of seven projects and sell the power to Duke Energy Carolinas under a 15-year power purchase agreement (PPA). MMA Energy Capital is a subsidiary of MMA Capital Management (NASDAQ: MMAC).
“As we grow our asset ownership, Conergy is thrilled to build out our North Carolina project portfolio with MMA Energy Capital’s facility. This financing further validates our bankability and access to capital for projects,” said Yann Brandt, Conergy’s regional head of The Americas in a statement.
Conergy began construction of the seven solar projects in September. The company plans to meet requirements to receive the North Carolina state solar tax credit this quarter and the projects will be placed in service in early 2016.
On the web: http://www.fundamentaladvisorslp.com/
