MMA Muni Mtg & Equ Llc

Leveraged Fund Aggregates 10-15 MW of New Solar Energy Projects Nationwide SAN FRANCISCO, Oct. 12 /PRNewswire-FirstCall/ -- MMA Renewable Ventures, LLC, a subsidiary of Municipal Mortgage & Equity, LLC, "MuniMae," (NYSE:MMA), today announced that it has closed commitments for Fund III, a leveraged solar energy project finance fund with tax-advantaged equity investments from an affiliate of Wells Fargo & Company ("Wells Fargo") (NYSE:WFC). MMA Renewable Ventures will use the capital to finance, own and operate 10-15 megawatts (MW) of new distributed photovoltaic projects for customers across the United States. MMA Renewable Ventures has constructed a diverse portfolio of photovoltaic projects, delivering a low risk renewable energy investment opportunity to Wells Fargo. The multi-project Fund III will streamline financing for solar electric systems at more than thirty sites including commercial, utility, and municipal organizations. MMA Renewable Ventures will manage all of the solar generation assets and deliver predictably priced electricity to the customers under long-term power purchase agreements (PPAs). "Managing and deploying a new solar energy system requires diligent attention to the individual needs of each energy customer. Our formula for project finance gives us the flexibility to work with many industry partners to deliver a wide range of product options for projects of any scale," said MMA Renewable Ventures CEO Matt Cheney. "This successful Fund III close and relationship with Wells Fargo demonstrates our ability to translate complex and diverse projects into a single, substantial investment-grade opportunity for our institutional investors." "MMA Renewable Ventures has a track record of tax-advantaged fund management, photovoltaic project development and ongoing system operation -- and we're pleased to invest in its Fund III," said Barry Neal, director of Environmental Finance at Wells Fargo. "Through our investment we're helping make solar and other renewable energy sources a cost effective option for our customers concerned about rising energy prices and the environment." With the close of MMA Renewable Ventures' Fund III, the company has arranged financing for a total of $300 million worth of solar energy projects under PPAs in seven states, resulting in 30 MW of new solar development. About MMA Renewable Ventures A subsidiary of Municipal Mortgage & Equity, LLC "MuniMae," (NYSE:MMA), MMA Renewable Ventures finances, owns and operates renewable energy and energy efficiency assets in the United States. The Company provides leases, Power Purchase Agreements (PPAs) and other customized financial solutions to help its customers manage energy costs. MMA Renewable Ventures is dedicated to delivering competitively priced, clean energy and energy savings to customers, strong partnership options for project developers, and exceptional opportunities for institutional investment in the clean energy sector. For more information about MMA Renewable Ventures, visit http://www.mmarenewableventures.com/ About Wells Fargo Wells Fargo & Company is a diversified financial services company with $540 billion in assets, providing banking, insurance, investments, mortgage and consumer finance through almost 6,000 stores and the internet (wellsfargo.com) across North America and internationally. Wells Fargo Bank, N.A. is the only bank in the U.S., and one of only two banks worldwide, to have the highest credit rating from both Moody's Investors Service, "Aaa," and Standard & Poor's Ratings Services, "AAA." Wells Fargo integrates environmental responsibility into its business, is one of the top purchasers of green power in the country, and since 2006 has committed to invest more than $300 million in solar and wind energy projects. DATASOURCE: MMA Renewable Ventures, LLC CONTACT: Alanna Gino of Antenna Group, +1-415-977-1918, for MMA Renewable Ventures, LLC; or Stephanie Rico of Wells Fargo, +1-415-396-5804, Web site: http://www.mmarenewableventures.com/

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