Nautilus Solar Energy acquires 17.2 MW community solar portfolio from Borrego Solar
Post date: 08/11/2019 - 11:37
US solar acquisition, development and asset management company Nautilus Solar Energy LLC announced the acquisition of a 17.2 MW community solar portfolio from Borrego Solar Systems, developer, designer, installer and O&M provider of commercial and utility-scale solar and energy storage projects. In addition to developing the portfolio, Borrego Solar will design, engineer, construct as well as maintain the systems. Nautilus will be responsible for the project management as the long-term owner and operator of the portfolio, comprising three solar projects in Monroe and Saratoga counties, New York. Construction is targeted for completion during Q3 2020. The acquisition is part of the »first wave of portfolio acquisitions« since being acquired by Power Energy Corporation, said Jeffrey Cheng, President of Nautilus.
Under the Community Solar model, qualified commercial and residential National Grid's New York customers can become subscribers for a portion of the energy produced by a system, which show up in the form of credits on their utility bills.