Sarasota, FL 4/3/2008 7:59:13 PM
Macy’s stores going renewable with Municipal Mortgage and Equity, LLC (OTO: MMAB)
Pennycents Reports on MMA Renewable Ventures
Pennycents Magazine, the market’s most valuable research tool covering micro-cap, penny stocks and otcbb equities, issued the following daily column by Dennis Fitter.
Not only are solar energy systems developers working on a line-up of innovative products, they are finding interesting ways to get their innovations into the marketplace.
Municipal Mortgage and Equity, LLC (OTCBB: MMAB, pink sheets), through its subsidiary MMA Renewable Ventures has signed Power Purchase Agreements or PPAs for 14 new solar electric systems to be installed at Macy’s stores in California.
In a uniquely new arrangement, MMA Renewable Ventures will own the solar energy systems to be supplied and installed by Sun Power Corporation (Nasdaq: SPWR), and sell the power at market competitive, predictably-priced rates to Macy’s in support of the retailer’s commitment to environmental sustainability. The 14 systems financed by MMA Renewable Ventures are an important part of Macy’s partnership with SunPower to install solar power systems in their 28 stores throughout California.
"Forward-thinking companies are using power purchase agreements to benefit from the use of clean, renewable solar power," said SunPower Chief Executive Officer Tom Werner. "Macy's is combining energy efficiency upgrades with a significant commitment to solar power, financed by MMA Renewable Ventures, to reduce greenhouse gas emissions easily and affordably."
MMA Renewable Ventures arranged equity investment for the first four systems through its Solar Fund III, a financing commitment with a subsidiary of Wells Fargo ("Wells Fargo," NYSE: WFC), under which Wells Fargo intends to fund 10-15 megawatts of solar energy projects nationwide.
Said Matt Cheney, CEO of MMA Renewable Ventures. "Today we are working with Macy's to prove that such pioneering efforts can be as good for a company's bottom line as they are for the environment."
The writer does not own shares in the above stocks.
Subscribe to Pennycents Magazine ($9.95 yr)About Pennycents Magazine
Pennycents Magazine, along with the Pennycents.com web site, features information on up-and-coming micro-cap, and penny stock companies listed on the OTCBB and Pink Sheets, as well as commentary on the factors that influence the market. As a totally unbiased penny stock information platform, Pennycents does not accept payment from the companies mentioned in its articles or columns. Neither Pennycents, nor its staff or writers, are allowed to invest in companies featured in the magazine. You can have Pennycents mailed to your door or learn more by visiting its website at http://www.pennycents.com.
PC Capital Holdings, LLC (Pennycents) believes the information contained herein to be accurate and reliable as of the issue publication date. The information contained herein is not guaranteed or warranted by Pennycents to be accurate, and should not be considered to be all-inclusive. The companies that are written about in Pennycents have not approved the statements made in this disclaimer. Information contained herein may contain forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or a solicitation of an offer to buy or sell securities. Pennycents is a magazine and not a licensed broker, broker/dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a licensed broker before purchasing or selling any securities viewed on http://www.pennycents.com or mentioned herein.
