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Seminole Financial Services to Finance Construction of $5.5 Million Wind Project for Walmart Distribution Center
Seminole Financial Services, LLC announced today the funding of a $5.5 million construction loan to build and install a 1.0 MW wind turbine to be constructed at the Walmart Distribution Center located in Red Bluff (Tehama County), California.
Known as Foundation Windpower-Walmart Red Bluff, the project is located approximately 120 miles north-northwest of Sacramento, and is expected to provide approximately 25 percent of the distribution center’s electricity. Plans call for installation of the single turbine to conclude by the end of this month, with a projected completion date set for mid-August.
“Walmart Red Bluff marks our eighth wind financing project with Foundation Windpower. Matt Wilson and John Pimentel have done a phenomenal job identifying partners to install efficient, cost effective wind turbines to offset organizations’ energy costs,” said Robert J. Banks, CEO of Seminole Financial Services.
For more information about renewable energy financing, please contact Chris Diaz, Senior Vice President for Seminole Financial Services at (727) 460-0578 or cdiaz@seminolefinancialservices.com.
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About Seminole Financial Services
Seminole Financial Services, LLC (SFS) originates debt and equity real estate investments throughout the country for institutional investors. SFS has demonstrated the ability to respond to changing markets and, in addition to traditional commercial real estate, has become a national leader in providing construction and permanent debt for below utility scale renewable energy projects. Transactions are generally between $2 and $30 million in value.
SFS, based in Belleair Bluffs, Florida, is the operating entity of six companies that collectively make up the Seminole Companies. SFS is responsible for originating, underwriting, servicing and providing asset management for the debt and equity investments originated for institutional investors managed by sister company, Seminole Advisory Services, LLC (SAS). SAS is a registered investment advisor with the SEC and presently has several hundred million dollars in assets under management. Information is available at www.SeminoleFinancialServices.com
About Foundation Windpower, LLC
Foundation Windpower (formerly Energy Alchemy, LLC) is based on the belief that our economy and environment depends on delivering cost-effective electricity with little negative environmental impact. The entire team is committed to meeting the needs of our customers and the environment. Information is available at www.FoundationWindPower.com