Power Energy Corporation buys Nautilus Solar Energy

Facebook
Twitter
LinkedIn
Reddit
Email
Nautilus acquires, develops, finances, owns and manages solar assets across the US and has invested more than $1 billion in capital since 2006. Source: Nautilus

Power Energy Corporation, a subsidiary of Power Corporation of Canada, has bought developer and asset manager Nautilus Solar Energy from management shareholders and minority shareholder Virgo Investment Group for an undisclosed sum.

New-Jersey based Nautilus acquires, develops, finances, owns and manages solar assets across the US and has invested more than US$1 billion in capital since launching in 2006. California private equity investment firm Virgo Investment Group acquired a minority stake in the company in 2015.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Nautilus will retain its current management team. Jim Rice and Laura Stern will remain co-CEOs and Jeffrey Cheng president.

Rice said in a release that “PEC's acquisition will not only provide Nautilus with competitive capital, but also the capabilities to accelerate growth to achieve greater scale in the market”.

In mid-June, Nautilus completed the first of three community solar projects in New York state.

21 October 2025
New York, USA
Returning for its 12th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.
16 June 2026
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 16-17 June 2026, will be our fifth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2027 and beyond.

Read Next

October 8, 2025
US solar module prices jumped in Q3 2025 as developers scrambled to meet the 2 September 2025 safe harbour deadline for Investment Tax Credit (ITC) qualification, according to supply chain platform Anza.
October 8, 2025
Despite policy headwinds on the federal level, there is optimism for the future of the US solar and storage sector.
October 7, 2025
Solar PV will account for almost 80% of the 4.6TW of new renewable power expected to be added by 2030, according to the International Energy Agency (IEA).
October 7, 2025
Doral Renewables has secured a PPA with an unnamed 'corporate buyer' for its 430MW Cold Creek solar-plus-storage project in Texas.
October 7, 2025
US independent power producer (IPP) Arevon has begun operations at two utility-scale solar projects in Indiana.
Premium
October 6, 2025
Talon PV aims to be the first US company to safely manufacture TOPCon cells at scale, backed by European technology and a crucial First Solar licensing deal.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK