Seminole Equity Partners (SEP) announced that it has closed on two new tax equity transactions, enabling the funding of approximately $25 million worth of solar systems in the State of North Carolina.
The North Carolina transactions represent the first such tax equity financing investment between SEP and FLS Energy, a full service solar energy provider which owns and operates a portfolio of solar energy assets throughout the United States and is headquartered in Asheville, North Carolina. Under the agreement, the transactions will benefit from the Federal Energy Investment Tax Credit (ITC) and North Carolina State Energy Tax Credits. Further terms of the tax equity financing were not disclosed.
This announcement reflects SEP’s commitment to clean energy and follows on the heels of the partnership formed between Seminole Financial Services, LLC and Round Rock Partners, LLC to collaborate on a “One Stop Shop” business model to provide both debt and equity financing. SEP’s principals have pioneered a variety of structures in the debt and tax equity markets and together have financed tax-incented projects totaling more than $1 Billion.
(Photo Credit: Seminole Equite Partners)