Chronicle Journal: Finance

Nautilus Solar Energy Announces Ribbon Cutting for a 13.3MW Community Solar Project in Minnesota

SUMMIT, N.J., June 26, 2018 /PRNewswire/ -- Nautilus Solar Energy LLC, a leading national solar acquisition, development, and asset management company, today announced the ribbon cutting for a portfolio of 13.3 MW of community solar projects in Minnesota. The solar projects are part of Xcel Energy's Solar*Rewards Community Program and are 100% subscribed by a diverse set of regional customers including five municipalities, two leading research/medical facilities and a local university.

Nautilus Solar logo (PRNewsFoto/Nautilus Solar Energy, LLC)

The two community-based solar gardens, located in Rice and Le Sueur Counties, consist of fixed-tilt, ground mount applications. Construction began on both gardens in Q4 2017 and reached commercial operation during Q1 2018. The gardens were acquired by Nautilus from Renesola Ltd. in 2017.  A local Roseville, MN based solar engineering and construction firm, IPS Solar, provided the installation services for the gardens.

"This community solar milestone extends Nautilus's vision towards extending a sustainable future for those customers that aren't able to have large scale solar facilities directly on-premise," said Jim Rice, CEO of Nautilus Solar Energy, LLC. "We're very pleased that our teams completed the acquisition and construction of these projects in a timely manner and are especially appreciative of the hard work that our local permitting, engineering, and installation partners provided to ensure the overall success of these developments," added Jeffrey Cheng, COO of Nautilus Solar Energy, LLC.

About Nautilus Solar Energy, LLC
Founded in 2006, Nautilus Solar Energy, LLC headquartered in Summit, N.J., is a leading national solar acquisition, development and asset management company. Nautilus focuses on acquiring, developing, executing and managing distributed and utility-scale generation solar projects throughout North America. Over its 10-year history, Nautilus has invested over $1 billion in solar projects located throughout the United States and Canada. Nautilus is minority owned by Virgo Investment Group, LLC. Join Nautilus on LinkedIn and Twitter and visit for more information.

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SOURCE Nautilus Solar Energy, LLC

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