to-the-point: MMA Energy to finance solar project in Puerto Rico
MMA Capital Management Llc said Monday that its subsidiary MMA Energy Capital Llc has agreed to finance the construction of a solar farm in Puerto Rico.
MMA Energy has closed a construction loan, whose value was not disclosed, with a major renewable energy developer. The solar farm will provide power to a subsidiary of a NASDAQ 100 company.
Amid the high electricity costs in Puerto Rico, solar power is increasingly becoming not only a mechanism for real savings but also a hedge against future cost escalations for private companies, Kevin Panzica, vice president of MMA Energy, said.
Diana Hristova is our expert for Latin America. She has spent several years following the diverse industries in the region, the energy sector most of all. Now Diana is exploring Latin America’s huge wind, solar, geothermal and hydropower potential.