Seminole Financial Services advised that it funded a US$25 million construction and permanent loan for REgeneration Finance, which will go towards the development of a 3.26MW PV system for the Buckeye Elementary School District in Arizona. The project will consist of installations being completed at seven different elementary schools with construction anticipated to be completed by the end of this year. This is the second school district that Seminole and REgeneration have collaborated on, the first being a US$19 million project in Douglas County, Colorado.
“This is the first construction and permanent loan we have provided for a renewable energy project and we were very comfortable doing it with 'REgen' because of our knowledge of Laurance [Friedman, CEO of REgeneration Finance] and his team,” stated Robert Banks, CEO and chairman of The Seminole Companies. Chris Diaz, senior vice president of Renewable Energy added, “We will utilize the knowledge gained from our efforts on this project to do more work with REgeneration Finance, as well as establish a comprehensive program with construction and permanent financing for the industry.”