SAN FRANCISCO, March 16, 2015 (GLOBE NEWSWIRE) -- Green Lake Capital, which in December was acquired by Atlantic Tele-Network (Nasdaq:ATNI), is now Ahana Renewables.
San Francisco-based Ahana is an owner and operator of commercial distributed generation solar power systems in Massachusetts, California and New Jersey. The company has 28 unique commercial solar projects with an aggregate 47 megawatts of electricity generating capacity. Customers include strong credit counterparties including corporations, utilities, schools, and municipalities.
"With greater flexibility and increased capital resources, Ahana Renewables will now expand on how and where we invest," said Managing Director Jason Tai. "In the last five years, we've built a high-credit, multi-state portfolio of commercial solar projects. Ahana will now build on that foundation to develop and acquire solar projects as well as new types of renewable energy projects. We will be expanding both our geographic footprint and our customer base."
Ahana is built around a team with deep financing and alternative energy knowledge. It is one of only a few companies in the United States that has experience in the full life-cycle of a solar project, from development, financing and construction to owning, operating, and monetizing across multiple geographic markets. The Company has developed a financing platform that will increase project velocity and minimize transaction costs. Leveraging ATN's geographic reach and financial resources, Ahana may also explore investment in a broader range of alternative energy projects.
Marvin Tien, Managing Director said, "The commercial alternative energy market is fragmented, but growing rapidly. With a new mandate that encourages flexibility and provides Ahana with access to a depth of financial resources, we are extremely well positioned to take advantage of emerging opportunities in a dynamic industry. Ahana will look beyond solar, and we will consider projects with similar credit-risk profiles and cash flow characteristics."
More information is available at: www.ahanarenewables.com
About Ahana Renewables
Ahana Renewables is a specialized investment firm focused on alternative energy and long-lived real assets. The company brings its experience to various infrastructure asset classes, capitalizing on bankable technology and strong project fundamentals. Ahana Renewables' core expertise lies in deal sourcing, public/private contract negotiations and financial structuring to take controlling, owner/operator positions in projects and portfolios. Headquartered in San Francisco with offices in Massachusetts and New York, the company currently operates a $220M portfolio with electric production capacity of 47 megawatts.
About Atlantic Tele-Network
Atlantic Tele-Network, Inc. (Nasdaq:ATNI), headquartered in Beverly, Massachusetts, provides telecommunications services to rural, niche and other under-served markets and geographies in the United States, Bermuda and the Caribbean and owns and operates solar power systems in select locations in the United States. Through our operating subsidiaries, we (i) provide both wireless and wireline connectivity to residential and business customers, including a range of mobile wireless solutions, local exchange services and broadband internet services, (ii) provide distributed solar electric power to corporate, utility and municipal customers and (iii) are the owner and operator of terrestrial and submarine fiber optic transport systems. For more information, please visit www.atni.com.
CONTACT: Jason Tai Managing Director (415) 426-3576 Marvin Tien Managing Director (310) 963-8087
Source: Ahana Renewables