May 28 2008
MMA Renewable Ventures, LLC, a subsidiary of Municipal Mortgage + Equity, LLC, a diverse real estate and clean energy finance and investment management company today announced plans to construct, finance and operate a 10 megawatt (MW) wind farm in north central Oregon. MMA Renewable Ventures partnered with developers and landowners Ormand and Jeff Hilderbrand to help manage and accelerate all aspects of project development. Upon scheduled completion in 2009, the PaTu Wind Farm is expected to produce 30,000 MWh of energy annually, enough clean electricity to power 3,000 homes each year.
The PaTu Wind Farm is the first wind project to join MMA Renewable Ventures' growing portfolio of more than 35 clean energy generation facilities nationwide. Within the wind market, MMA Renewable Ventures is focused on delivering turnkey financing and project management services that facilitate community ownership of wind projects.
"MMA Renewable Ventures has a proud tradition of pioneering new ways to make clean energy easier and more cost-effective to deploy. Our entry into the wind market extends our proven financial capabilities, operational expertise and innovative approach to an entirely new group of renewable energy partners and customers," said Matt Cheney, CEO of MMA Renewable Ventures.
"Wind energy development offers rural regions a real source of economic opportunity, but the many factors involved in bringing a new wind farm into operation can be difficult to successfully manage. The challenges are even greater for community scale projects like ours that must compete with larger projects for limited turbines and financing," said Ormand Hilderbrand. "More than just a financial partner, MMA Renewable Ventures provided the expertise we needed to speed this project to successful operation, helping the wind farm deliver benefits to my business, our community and the environment."
MMA Renewable Ventures provides development capital, customized project management and total financing for small- to mid-scale wind farms. The company collaborates with project stakeholders to deliver benefits to all participants, including:
- Developers & Landowners: With expertise in development investment, development management, project finance, construction, turbine procurement and operation, the company works with developers at all stages of the project lifecycle to manage the wind farm through successful operation.
- Institutional Investors: MMA Renewable Ventures aggregates qualified, investment-grade wind energy projects to manage risk and provide attractive returns to investors.
Since 2002, MMA Renewable Ventures has brought more than 40 MW of clean energy generation into development, including North America's largest photovoltaic system at Nellis Air Force Base. The company is currently expanding its presence in the wind market and has a pipeline of more than 200 MWs of near term community wind opportunities.