Nautilus Solar Energy has acquired 21 fully-operational solar projects in New York state and Maryland totaling nearly 60 megawatts of solar capacity.
This transaction is one of the largest acquisitions of an operating community solar portfolio to date.
The 16 projects in New York state and five in Maryland currently provide community solar power to 9,500 households and two school districts through a power-purchase agreement. Nautilus's asset management division will be responsible for the project management, long-term asset management and maintenance for the life of the projects.
“This operating portfolio acquisition is a true milestone transaction for Nautilus and is a cornerstone to our core strategy of acquiring, developing, financing, owning, and managing solar assets throughout the U.S., with a focus on community solar markets,” said Jeffrey Cheng, president of Nautilus.
This announcement closely follows Nautilus's acquisition of seven fully oper