BELLEAIR BLUFFS — Seminole Financial Services LLC, headquartered in Belleair Bluffs, has agreed to provide loans to KDC Solar LLC — a Bedminster, N.J.-based developer, owner and operator of solar power facilities — for the construction of a 23.5-megawatt solar photovoltaic system. The system will supply Six Flags Great Adventure in Jackson, N.J., with 30 million kilowatt hours of clean, renewable energy per year, according to a statement.
The system will be able to handle nearly all of the theme park’s electrical load. When completed, it will be the largest net-metered solar installation in New Jersey, and its energy savings will be equivalent to providing power for 2,787 homes for a year or removing approximately 108,000 cars from the road, the release states.
Seminole Financial Services will provide construction and permanent loans for the project, with development capital and project equity arranged by Stamford, Conn.-based GoldenSet Capital Partners, the release adds. The amount and other terms of the loans were not disclosed.
“We are very pleased and proud to have been selected by Six Flags Great Adventure for this groundbreaking solar project,” states Alan Epstein, president and CEO of KDC Solar, in the release. “We also want to recognize and thank our partners, GoldenSet Capital Partners and Seminole Financial Services, for providing the necessary capital to build this project.”
Seminole Financial Services CEO Bob Banks adds, via the release, “As a company built on a relationship-first philosophy, we’re grateful for the opportunity to work alongside such highly respected organizations as KDC Solar and GoldenSet Capital. We’re honored to have provided the financing for this monumental project.