Nautilus Solar acquired a Maryland community solar portfolio from Power52 Energy Solutions
Post date: 28/11/2018 - 20:27
US solar project acquisition, development and asset management company Nautilus Solar Energy, LLC acquired a 9 MW community solar development portfolio from Power52 Energy Solutions, a regional developer of renewable energy projects. This portfolio is comprised of four separate projects located outside of Baltimore. Each project is qualified under Maryland's community solar pilot program and is in the Baltimore Gas & Electric (BGE) service territory. The portfolio is expected to be constructed and energized in 2019.
Nautilus will be responsible for the project management, long-term asset management and maintenance services for these projects. They will be owned by an affiliate of Virgo Investment Group, which is also a minority shareholder of Nautilus Solar Energy. The energy generated by the projects will directly benefit qualified residential off-takers, including low and moderate income subscribers, who are situated within BGE's service territory. The energy generated through these solar projects will provide local residents with energy cost savings while also advancing Maryland's overall renewable energy goals. Trainees from the Power52 Energy Institute's 11-week solar training program will complete their »On the Job Training« as part of the construction of the portfolio along with graduates that are currently employed by Power52 Energy Solutions.