Seminole Financial Services has announced closing loan deals for five solar projects in Q1 of 2012. The projects are ground-mounted and rooftop installations as well as canopies, ranging in size from 600kW to 2.4MW. The loans totalled US$13.8 million for all five projects. Of the five projects, two are located in New Jersey, another two in North Carolina and one in Oregon. The first quarter of 2012 follows a busy 2011, during which Seminole lent a total of US$88 million in construction loans and US$25 million in permanent loans. Since 2009, Seminole has closed over $162 million in construction financing and permanent debt financing for solar projects as well as wind projects.
“We have no bias where we establish our relationships,” Seminole’s senior vice president Chris Diaz said. “We have closed 20 loans in eight states over the past 18 months beginning Fourth Quarter, 2010. We have a very knowledgeable team that can execute good deals with good people all over the country.”