Nautilus Solar Energy has acquired eight community solar projects in Maine, totaling 47.2 megawatts, from ISM Solar Development.
The projects, located in Cumberland, Knox, Oxford and York counties, are part of Maine's Net Energy Billing program. Upon completion, they are expected to provide a clean energy option to nearly 10,000 households within the Central Maine Power electric utility territory.
This is the third transaction between Nautilus and ISM, following the completion of two operational projects in Rhode Island. Following the transaction, Nautilus will be the long-term owner of the projects and will also be responsible for acquiring and managing customer subscriptions.
“This acquisition significantly expands our renewable energy presence in Maine, and symbolizes Nautilus's pledge to provide equitable, affordable access to community solar for all Mainers,” said Jim Rice, co-founder and co-CEO of Nautilus Solar.
Construction of the solar projec
