Bridge Bank Provides Perpetual Energy Systems $28 Million to Refinance 12.25 Mega Watts of Solar Energy in Northern and Southern California
SAN JOSE, CA (Marketwire) - 01/28/15 - Bridge Capital Holdings (NASDAQ: BBNK), whose subsidiary is Bridge Bank, a fullservice professional business bank headquartered in Silicon Valley and with offices located nationwide, announced today that it has provided Perpetual Energy Systems, an independent power producer of renewable energy, with $28 million to refinance multiple solar power plants in California.
These solar projects provide power across the state to school districts and universities, including California Institute of Technology and Santa Clara University. Other beneficiaries include Siemens Transportation Systems, various municipalities, and one of the largest collections of winery installations in Napa Valley under the Treasury Wine Estates name, including Beringer, Stag's Leap, and Asti.
"Bridge Bank is proud of its ongoing partnership with Perpetual Energy," said Andre Zaffuto, vice president in Bridge Bank's Energy and Infrastructure Group. "They brought us an enviable collection of wellbuilt assets across California backed by solid power purchase agreement offtakers and we are excited to support the expansion of renewable energy in California," he added.
"Perpetual takes on the economic risk of every solar project we build in order to provide our clients immediate cost savings when they switch over to clean and renewable energy," said Charles Allen, of Perpetual Energy Systems. "In order to do that we need a financing partner who is agile and who knows the clean energy space and that partner is Bridge Bank."
"We are dedicated to assisting small and large developers and have the agility to close transactions to fit our clients' exacting schedules," said Scott Reising, senior vice president and business line manager in Bridge Bank's Energy and Infrastructure Group. "Our group has committed over $250 million to renewable infrastructure loans over the last three years, demonstrating a significant and growing commitment to the industry."
About Bridge Bank, National Association
Recognized by The Findley Reports as a Super Premium Performing Bank, and designated "Superior" by BauerFinancial and IDC, Bridge Bank is a fullservice professional business bank founded in the highly innovative climate of Silicon Valley in 2001. Learn more at the new www.bridgebank.com. Follow us @BridgeBank.
About Bridge Capital Holdings
Bridge Capital Holdings is the holding company for Bridge Bank, National Association. Bridge Capital Holdings was formed on October 1, 2004 and holds a Global Select listing on the NASDAQ stock market under the trading symbol BBNK. Bridge Bank Holding Company was recently admitted to Sandler O'Neill's Class of 2014 "SmAll Stars" a select group of 35 topperforming publicly traded banks and thrifts from throughout the U.S. with market capitalization of up to $2.5 billion. For additional information, visit the Bridge Capital Holdings website at www.bridgecapitalholdings.com.
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