Nautilus Solar acquired 21 MW Minnesota Community solar portfolio from Renesola
Post date: 08/04/2019 - 20:13
Chinese solar project developer Renesola Ltd. and solar project developer and provider of energy-efficient products Nautilus Solar Energy, LLC announced Nautilus's acquisition of a 21.1 MW community solar portfolio developed by Renesola in Minnesota, USA. The portfolio is spread over four sites and will incorporate both single-axis tracking and fixed tilt solar applications. The portfolio will be built through the remainder of year and is expected to come online during Q4 2019.
According to the company, Nautilus provided early-stage development capital and will be responsible for long-term asset management services and maintenance for the projects. The projects will be owned by an affiliate of Virgo Investment Group, a minority shareholder of Nautilus Solar Energy. The energy provided by the portfolio directly benefits local community off-takers.