North Sky CleanTech Alliance Fund, L.P. and NewWorld Environmental Infrastructure, L.P. will invest in a PV generation project portfolio that was developed by independent solar power producer Nautilus Solar Energy LLC through its subsidiary, Nautilus Solar Energy Canada, Inc.
The portfolio, which is located in Ontario, Canada, is comprised of 28 separate projects totaling 9.2MW. The porftofilio is expected to grow to 24MW over time.
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Laura E. Stern, president of Nautilus Solar Energy, said: “Our partnership with NewWorld Infrastructure and North Sky provides the foundation not only for the successful completion of Nautilus's current portfolio, but also the opportunity for significant expansion through acquisition of projects in the Ontario Power Authority's feed-in-tariff program. We could not be more enthusiastic to help accelerate the development and growth of the Ontario solar sector.”
Everett Smith, managing partner of GoldenSet Capital Partners, the company that manages NewWorld Environmental Infrastructure, said: “We are pleased to partner with Nautilus Solar Energy, a proven solar developer, and to support the objectives of the Province of Ontario in expanding its base of clean energy. Through this investment NewWorld Infrastructure and GoldenSet Capital Partners have again achieved their objective of creating jobs in the near-term, environmental benefits for the longer term, and an attractive investment opportunity for the North Sky and NewWorld Infrastructure investors.”
