Nautilus Solar acquires 13.3MW community solar portfolio in Minnesota from ReneSola

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
As a result of the finalised transaction, the projects will be owned by an affiliate of Virgo Investment Group. Image: ReneSola

Solar project development, acquisition and asset management company Nautilus Solar has acquired a 13.3MW community solar portfolio previously owned by integrated solar manufacturer ReneSola.

The community solar portfolio, which was qualified under Xcel Energy's community solar program, is located across Minnesota. The portfolio is expected to be built through the remainder of 2017, with the installations expected to come online during Q1 2018.

As a result of the finalised transaction, the projects will be owned by an affiliate of Virgo Investment Group, which is also a minority shareholder of Nautilus Solar Energy.

Nautilus will provide development and long-term asset management services for the project.

Kevin Chen, CEO of ReneSola Power Holdings, the US project development arm of ReneSola, said: “The transaction demonstrates our strong execution in project development. We believe community solar to be an attractive market for us in the US. We look forward to continue working with the Nautilus team on other solar opportunities from our national development portfolio.”

Jim Rice, CEO of Nautilus Solar, added: “This deal continues the exciting growth strategy that we announced last year and expands our focus and capabilities to include community solar developments.”

Read Next

December 2, 2021
Enel Green Power has named Paolo Romanacci as the new head of its North America division, overseeing all renewables activities in the US and Canada.
December 1, 2021
Major US bank Wells Fargo has closed its maiden tax equity investment into a colocated solar-storage project currently under construction in New Mexico, US.
December 1, 2021
Tech major Amazon has added a further 2GW to its committed utility-scale solar PV capacity, adding projects in the US and Europe to its renewables portfolio.
November 30, 2021
JinkoSolar has slashed its shipments guidance for the year, reducing its top end guidance by more than 5GW as it blamed ongoing logistics issues and port blockages.
November 24, 2021
The US International Trade Commission has recommended that the Section 201 safeguard tariffs on solar cells and modules be extended.
November 24, 2021
PV Tech sits down with the CEO of Arcadia following the launch of its flagship software, Arc, to discuss data, digitisation and the US transition

Subscribe to Newsletter

Upcoming Events

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