MMA Capital Management, LLC (NASDAQ:
MMAC) ("MMA Capital Management" or the "Company"), a Delaware limited
liability company, today announced the formation of a new subsidiary, MMA
Energy Capital, LLC ("MMA Energy Capital"), that will partner with renewable
energy developers, contractors and system owners to provide project capital
necessary to develop and build world class renewable energy systems. MMA
Energy Capital will be headed by Managing Director Bob Hopper, a former
executive with MMA Renewable Ventures and SunEdison.
MMA Energy Capital will provide custom solutions around construction debt,
development capital and permanent debt that enable its customers to
effectively develop and build projects with the certainty that their capital
needs will be met through an efficient and collaborative process. Our primary
investment focus will be in the distributed solar power market where there
continues to be a lack of capital to meet the rapid growth of the industry.
Michael Falcone, Chief Executive Officer of MMA Capital Management, stated,
"Through our former ownership of MMA Renewable Ventures, we have over a decade
of renewable energy investment experience. Our deep knowledge of the
renewable energy business brings exceptional underwriting experience, even
with the most complicated clean energy projects. Starting with our first
hire, Bob Hopper, and leveraging MMA Capital Management's resources, our staff
will work to understand the specific needs of our customers and facilitate
getting project financing closed."
Mr. Hopper stated, "Project developers are often stalled during the
development process by lack of funds to advance their projects into
construction, and we believe we have the appropriate mix of industry expertise
and project finance knowledge to help our customers complete their projects
and realize the economic benefit of their work."
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