HomeJanuary 3, 2013
Just Energy Group Announces Additional Financing Arrangements for Solar Business
Copyright 2013 EnergyChoiceMatters.com.
Just Energy Group Inc. announced that its subsidiary’s solar business, Hudson Energy Solar, has entered into financing arrangements with Seminole Financial Services, LLC and another institutional lender.
The initial funding is for several solar projects under development in New Jersey. This financing arrangement will allow Hudson Energy Solar to complete the projects as well as utilize much of the tax incentives available for renewable energy projects.
As part of the financing, Seminole has provided construction financing of approximately $12 million and a debt facility of approximately $6.5 million. Additionally, as part of the structure, an institutional lender has provided an aggregate investment of approximately $7 million with respect to the projects. The Seminole construction loan will be repaid from the proceeds of the permanent debt facility and the institutional investment.
The financing structure has the capability to be used to support additional solar projects, supporting the continued growth of Hudson Energy Solar.
You can follow specific tags with a free account and see their newest stories in one place. Sign up or sign in.
Copyright 2013 EnergyChoiceMatters.com. Unauthorized copying, retransmission, or republication prohibited. You are not permitted to copy any work or text of EnergyChoiceMatters.com without the separate and express written consent of EnergyChoiceMatters.com.
