BALTIMORE, Dec. 15, 2014 /PRNewswire/ -- 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."
Cautionary Statement Regarding Forward-Looking Statements
This Release contains forward-looking statements intended to qualify for the safe harbor contained in Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements often include words such as "may," "will," "should," "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "seek," "would," "could," and similar words or are made in connection with discussions of future operating or financial performance.
Forward-looking statements reflect our management's expectations at the date of this Release regarding future conditions, events or results. They are not guarantees of future performance. By their nature, forward-looking statements are subject to risks and uncertainties. Our actual results and financial condition may differ materially from what is anticipated in the forward-looking statements. There are many factors that could cause actual conditions, events or results to differ from those anticipated by the forward-looking statements contained in this Release. These factors include changes in market conditions that affect the willingness of potential investors or lenders to provide us with debt or equity, changes in market conditions that affect the value or marketability of assets we own, changes in market conditions or other factors that affect our access to cash that we may need to meet our commitments to other persons, changes in interest rates or other conditions that affect the value of mortgage loans we have made, changes in interest rates that affect our cost of funds, tax laws, environmental laws or other conditions that affect the value of the real estate underlying mortgage loans we own, and changes in tax laws or other things beyond our control that affect the tax benefits available to us and our investors. Readers are cautioned not to place undue reliance on forward-looking statements. We have not undertaken to update any forward-looking statements in this Release.
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SOURCE MMA Capital Management, LLC