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Jack/Jerry-

Would it be possible to do this call on Monday at either 10am, 2pm or 3pm? Hunter and Arlene will both be traveling on Monday, but those time work for Devon and me. We'd also like to include someone from Transatlantic on the call or would you prefer this call to just be the Rosemont Seneca team. Either works for us, but let us know.

Best,

Eric


From: Jack Casey [mailto:jcasey@meridiancompaniesllc.com]
Sent: Friday, July 22, 2011 11:10 AM
To: hbiden@rosemontseneca.com; darcher@rosemontcapital.com; Arlene Busch
Cc: Jerry McDermott; Roman Brilman; John Boc
Subject: IBERDROLA - TRANSCAPITAL - CAPITAL ONE

Hunter, Devon & Arlene:

Jerry McDermott would like to have a dial in conference call Monday July 25, 2011 at 11:00 AM.

We are ready to finalize and close with our client Capital One. We want to make sure Rosemont Seneca understands the transaction and is committed to fund the cash equity portion and has been compensated in the transaction.

Here is a quick deal synopsis:

$100 Million Iberdrola Solar transaction “Project Sun” Copper Crossing, Arizona.

Transcapital is purchasing a 49% interest from Iberdrola for $ 52.2 Million

Rosemount Seneca is to provide $ 22 million in cash equity portion with a 8.65% return

Capital One will provide $ 28 million of tax credit equity at an 11% yield (flip structure)

Meridian Investments will be paid 1.5% on the tax credit equity at closing for structuring and placement equaling $ 420,000

We want to make sure you understand the steps necessary to close and the tax opinion that will be required by Capital One to close.

Please reply all to make sure you will be available for the call and we will schedule it. Should you wish to call Jerry directly he is at 301-983-5000 till 3:00 PM today.

Thanks, Jack


Eric D. Schwerin
Rosemont Seneca Partners, LLC
1010 Wisconsin Ave., NW
Suite 705
Washington, DC 20007
(202) 333-1880
eschwerin@rosemontseneca.com
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