MMA Renewable Ventures Closes $39 Million in Solar Project Financing for 2006
Six solar projects make 2006 a milestone year for this renewable-energy finance innovator. Third-party financing removes removes a cost barrier, and power purchase agreements promise predictably-priced green energy.
February 07, 2007
MMA Renewable Ventures financed US$39 million in new solar energy projects in the last quarter of 2006, according to an announcement today. The MuniMae subsidiary financed six new renewable energy projects last year.
The photovoltaic systems will deliver electricity to three corporate and three municipal energy customers in California and New Jersey, under power purchase agreements (PPA) and lease arrangements.
2006 was a year when energy and the environment became boardroom issues, but talk outpaced action. Aside from a few high-profile solar plays, few companies braved the financial commitments, complexities of incentives, and technology decisions necessary to make solar financially viable. MMA-RV specializes in third-party financing to build solar energy generation plants. This type of financing reduces or removes the up-front cost to customers, and power purchase agreements promise them predictably-priced green energy over the life of the deal.
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Traded companies: MuniMae, NYSE:MMA
Comments
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Posted by: Mr Emeka Nwabuko | February 22, 2007 06:35 AM