Nautilus Solar Energy has acquired two solar portfolios in Oregon and Rhode Island from Pine Gate Renewables.
The 14-megawatt portfolio in Oregon consists of five developments located across four counties in Western Oregon. The acquisition marks Nautilus’s entry into the state. One site in Clackamas County is expected to be operational in late 2021.
In addition, the 3-megawatt Rhode Island development site will produce enough energy to power the equivalent of 680 households within the National Grid service territory. The project is expected to be placed in service during 2022. This acquisition brings the company’s solar portfolio in the state to more than 34 megawatts.
Both developments, which total 17 megawatts, are in the early-to-mid stages. Nautilus will take each portfolio to completion and be responsible for the long-term asset management and maintenance services for the projects.
“This deal exemplifies Nautilus’s commitment to working close