Nautilus Solar Energy and Foss & Company Announce $72 Million Tax Equity Partnership
Nautilus Solar Energy, LLC (“Nautilus”) on behalf of its affiliate Nautilus US Power Holdco, LLC (”NUPH”), a leading community solar company, and Foss & Company, a leading institutional investment fund sponsor, announced a $72 million tax equity partnership. The investment covers a 62 MW portfolio of 16 projects spread across Maine, Minnesota, New York, and Maryland. This is the second partnership between the two companies.
"The collaboration with Foss & Company highlights the growing demand for community solar projects that offer an equitable and affordable renewable energy choice," said Julian Erfurth, Executive Director of Capital Markets for Nautilus. "This partnership not only reinforces our commitment to advancing a cleaner, more resilient energy sector but also expands the reach of community solar across numerous US markets. We are proud to be part of the clean energy transition.”
These projects aim to provide much needed alternative energy to the Northeast and Midwest regions of the United States and are expected to be fully operational in 2024.
"We're thrilled to be partnering with Nautilus Solar Energy again on this significant community solar portfolio,” said Bryen Alperin, partner and managing director of renewable energy and sustainable technologies, Foss & Company. “This marks our second successful deal with Nautilus, a leading force in community solar development. We extend our deepest gratitude to all involved for their hard work, dedication and innovative spirit in bringing these projects to life and providing affordable, clean energy to communities across the country."
NUPH is the long-term owner of the projects, with Nautilus Solar Energy responsible for overseeing construction, maintaining its long-term performance, and acquiring and managing customer subscriptions through its proprietary community solar subscriber management and acquisition platform.
Nautilus Solar Energy | nautilussolar.com
Foss & Company | www.fossandco.com