Wednesday, 6 May 2015
Last updated 19 hours ago
Jan 28 2009 | 9:09am ET
Baltimore-based solar-panel developer MMA Renewable Ventures announced Tuesday it had used all of the nearly $200 million raised from its Solar Fund III to build 20.6 megawatts (MW) of new solar photovoltaic production capacity in the United States.
The company financed and completed – and now owns and operates – 20 new photovoltaic projects sited at private and public sector locations, with third-party power purchase agreements. One such project is a 2MW system at Denver International Airport. The fund included equity from Wells Fargo and loans from National Consumer Cooperative Bank.
"With the closing of Solar Fund III, we've confirmed that electricity customers in the U.S. are looking at the long term, and have identified clean, predictably-priced energy from the sun as an operational fit that makes sense," said Matt Cheney, CEO of MMA Renewable Ventures.
According to the company, Solar Fund III saw the world's largest installation of solar panels made with copper, indium, gallium and selenium (CIGS), a type of thin film new to the market. (Most solar panels sold today convert sunlight to electricity by means of crystalline silicon.)
MMA also completed Fund IV (used for a 14MW project at the Nellis Air Force Base in Nevada) and is raising Fund V. The company has most of the projects lined up and expects to have the money in place by early 2009.
"We have the curve ball of the current financial crisis that makes things more interesting, but we don't anticipate it will be more difficult [to raise the money] than in the past," Mark McLanahan, MMA senior vice president for corporate development, told Greentech Media.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…