In future, Nautilus US Power Holdco will be the long-term owner of the projects, with Nautilus Solar Energy responsible for overseeing construction, maintaining its long-term performance, and acquiring and managing customer subscriptions through its community solar subscriber management and acquisition platform.
Nautilus Solar Energy signed the deal on behalf of its affiliate and community solar company Nautilus US Power Holdco. The tax equity deal was the second between both companies, with the first one signed in January 2023 for over 44MWdc of projects in Maine, Minnesota, and Maryland.
“The collaboration with Foss & Company highlights the growing demand for community solar projects that offer an equitable and affordable renewable energy choice,” said Julian Erfurth, executive director of capital markets for Nautilus.
Earlier this month, Nautilus acquired a portfolio of 16 community solar projects with a combined capacity of 75.6MW in Illinois. The projects will be operational between 2025 and 2027.
The company said the acquisition could strengthen its presence in community solar, particularly its rapid growth in existing and new midwestern markets.
Our publisher Solar Media is hosting the Renewable Energy Revenues USA conference, 10-11 April, at Marriott Las Colinas in Dallas. Discussion topics will include changes in power trading practices, de-risking renewable energy transactions and managing risk amid a changing environment. See the official site for more details.
