Seminole Financial Services, in partnership with Blackstone Credit, has closed a $104 million debt facility to provide financing for the construction of a 55 MW Rhode Island solar project.
This transaction represents the 16th project Seminole has financed for the developer, Revity Energy LLC, and its affiliates, which develop, construct, own and operate renewable energy generation facilities ranging in size from 250 kW to more than 55 MW. Since 2010, Revity has successfully developed and installed more than 30 commercial solar PV energy facilities that are currently in operation throughout Rhode Island and Massachusetts.
Since 2009, Seminole has committed more than $2.2 billion in construction and permanent debt financing, as well as tax credit equity for more than 325 solar and wind installations amounting to more than 1.1 GW in installed capacity throughout the continental United States and Hawaii.
With a focus on debt offerings exceeding $2 million, Seminole has financed renewable energy projects associated with numerous municipalities, utilities and school districts, as well as large corporates such as Walmart, BJ’s Wholesale Club, Safeway and Anheuser-Busch in more than 30 states.
Seminole has built its reputation on a relationship-first approach working with developers nationwide searching for Renewable Energy financing solutions.
“Our collaboration with two best-in-class organizations, Blackstone Credit and Revity Energy LLC, gives Seminole a strategic advantage and bolsters our position in the marketplace,” said Chris Diaz, co-CEO of Seminole. “We are honored to work alongside such amazing talent to make an even greater impact in the renewable energy space and the community as a whole.”
— Solar Builder magazine
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