Owner-operator Nautilus Solar Energy LLC has acquired 21 fully operational solar projects in New York and Maryland totaling almost 60 MW DC of capacity – one of the largest acquisitions of an operating community solar portfolio to date, the company says.
The 16 projects in New York and five in Maryland currently provide community solar power to 9,500 households and two school districts through a power purchase agreement. Nautilus’ asset management division will be responsible for 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,” says Jeffrey Cheng, president of Nautilus.
This announcement closely follows Nautilus’ acquisition of seven fully operational solar projects in Massachusetts totaling 5.2 MW DC.