Power Energy Corporation buys Nautilus Solar Energy

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
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.

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.

Read Next

November 24, 2021
The US International Trade Commission has recommended that the Section 201 safeguard tariffs on solar cells and modules be extended.
November 15, 2021
US solar manufacturers behind the controversial anti-circumvention petition have said they are “evaluating all options” and could refile petitions in the future.
November 5, 2021
First Solar is actively exploring future capacity manufacturing locations after recording a surge in demand, both domestically and internationally, amidst supply chain obstacles impacting the PV industry.
PV Tech Premium
November 3, 2021
In this exclusive video from PV Tech publisher Solar Media’s Solar & Storage Finance USA event last month, a panel of supply chain experts discuss immediate challenges and potential remedies to the situation.
PV Tech Premium
October 27, 2021
As prices rise and component availability remains tight, both solar’s upstream and downstream are rallying behind the common cause of ensuring which projects can go ahead, do go ahead in a timely fashion. Liam Stoker assesses the industry’s efforts to keep the supply chain moving forward.
October 15, 2021
European renewables investment management firm Greencoat Capital has confirmed its entry to the US renewables market and is plotting to invest up to US$5 billion over the next five years.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
December 1, 2021
Solar Media Events
February 1, 2022
London, UK
Solar Media Events
February 23, 2022
London, UK
Solar Media Events
March 23, 2022
Austin, Texas, USA
Solar Media Events
March 29, 2022
Lisbon, Portugal