Solar Liberty Gets MMA Capital Loan for 9 New York City Projects

(Bloomberg) — Solar Liberty, a Buffalo-based photovoltaics
installer, closed a loan from MMA Capital Management that it
will use to build nine rooftop projects in New York City.

MMA Capital is providing a revolving construction loan of
“several million dollars” over 12 to 18 months, Bob Hopper, a
managing director, said Friday in a telephone interview. He
declined to specify the exact dollar amount or terms of the
loan.

The nine solar installations will have a combined capacity
of about 6 megawatts, Hopper said.

Solar Liberty has installed about 25 megawatts of systems
since it was founded in 2003 and has another 25 megawatts in its
current pipeline, President Adam Rizzo said in a telephone
interview. He declined to provide additional customer
information or specific project locations of the New York City
projects, citing contractual obligations.

To contact the reporter on this story:
Justin Doom in New York at
jdoom1@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Robin Saponar, Will Wade

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