February 2013 - Bostonia acts as Advisor and Placement Agent for Citizens Energy on five solar projects in Massachusetts
Bostonia Group provided Advisory and Capital Markets Services to Citizens Energy Corporation for the installation of five ground-mount solar photovoltaic systems located in central and western Massachusetts. The five systems generate 9.8 MW of renewable power that will be purchased by various end users under long-term agreements. Of note, the projects are sited on parcels of land that are not conducive to development for other uses or preservation in their current state. As Advisor, Bostonia structured, arranged and negotiated the financing consisting of construction and bridge loans, permanent debt financing and tax equity. According to Brian Morrissey at Citizens Energy, “the Bostonia team provided us with a compelling financial solution and after much hard work, delivered on it, making these solar systems a reality”. All five systems are operational in early 2013.
About Bostonia Group
Consisting of Bostonia Partners, its Investment Banking arm and its securities broker-dealer- Bostonia Global Securities, Bostonia Group provides financial advisory services to its corporate and institutional clients and sells and trades securities to institutional investors. Through innovative financial engineering and years of successful transactions, Bostonia has built a reputation for executing financings with non-traditional structures utilizing structured credit and securitization techniques that result in low cost and efficient financing solutions. Within its renewable energy practice, Bostonia Partners assists clients with the development and financing of commercially viable projects, acting as advisor, owner and capital arranger. Further information on Bostonia is available at www.bostonia.com .
About Citizens Energy Corporation
Citizens Energy Corporation is a non-profit organization originally founded in 1979 by Joseph P. Kennedy. Citizens Energy uses revenues from commercial enterprises to channel millions of dollars into charitable programs in the U.S. and abroad Citizens Energy’s current commercial enterprises, conducted through its wholly-owned for-profit subsidiary Citizens Enterprises Corporation, focus on renewable energy development including solar power generation. Through its solar development division-Citizens Solar, the company develops solar projects for large commercial and industrial applications as well as for small utility scale generation plants. Profits from Citizen Solar fund Citizens Energy’s assistance programs.