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Power Energy Corp. acquires Nautilus Solar Energy
Transactions - AUGUST 1, 2019

Power Energy Corp. acquires Nautilus Solar Energy

by Kali Persall

Power Energy Corporation (PEC) has purchased Nautilus Solar Energy, a United States solar developer and asset manager, from Virgo Investment Group for an undisclosed sum.

“This transaction supports Nautilus’ established strategy of acquiring, developing, financing, owning and managing solar assets throughout the U.S., with a focus on community solar markets,” said Jim Rice, co-CEO at Nautilus. “PEC’s acquisition will not only provide Nautilus with competitive capital, but also the capabilities to accelerate growth to achieve greater scale in the market.”

Nautilus will continue to manage the solar portfolio that it developed with Virgo Investment Group over a four-year period, which consists of 80 megawatts of C&I and community solar that services 2,000 customers across eight states.

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