MMA Renewable Ventures LLC, a subsidiary of Municipal Mortgage & Equity LLC, has completed Solar Fund III, raising nearly $200 million to support the creation of new solar energy projects nationwide.
Through Solar Fund III, MMA Renewable Ventures successfully deployed 20.6 MW of new solar photovoltaic production capacity in the U.S. The company financed and completed – and now owns and operates – 20 new photovoltaic projects sited at governmental, retail, private and public sector locations, with third-party power purchase agreements.Â
Solar Fund III included a tax equity investment from Wells Fargo that enabled MMA Renewable Ventures to finance solar energy projects nationwide. Most of the construction debt, permanent debt and rebate financing for the Solar Fund III projects was provided by the National Consumer Cooperative Bank.
SOURCE: MMA Renewable Ventures