Nautilus makes landmark acquisition of 270 MW community solar portfolio from ESA

Nautilus Solar Energy LLC affiliate company Nautilus US Power Holdco LLC has acquired a portfolio of up to 270 MW of community solar projects from ESA Solar Development Group.

Located throughout the Midwest in markets with proposed community solar legislation, the projects are in the early stages of development and will be co-developed by both companies.

“We are thrilled to unite ESA’s market savvy and development expertise with Nautilus’s financial might and nimble transactional abilities,” said Laura York, VP of structuring at Nautilus. “This partnership combines our complementary strengths, equipping us to navigate hurdles and risks together while driving transformative outcomes for early-stage development projects.”

The landmark deal represents Nautilus’ largest early-stage acquisition and co-development partnership to date and its first transaction with ESA. Investment firm Piper Sandler Cos. was the advisor to ESA on the acquisition.

“Our mission at ESA is to provide pathways to clean energy, and strategic partnerships like this one with Nautilus are foundational to realizing that goal,” said Lindsay Latre, Chief Executive Officer at ESA. “Their proven commitment to the Midwest markets and the community solar industry at large is commendable.”

ESA chief operating officer Justin Vandenbroeck added: “With this major investment, we are crystallizing our commitment to expanding access to solar energy adoption. By leveraging Nautilus’ robust financial capabilities to capitalize these community solar projects across the Midwest, we’re giving our landowners, host communities, and our team an even greater chance to benefit from the promising economic opportunities the clean energy economy provides to rural communities across the United States.”

Founded in 2006, Nautilus focuses on community solar development, which the company describes as one of the fastest-growing sectors of the renewable energy industry. Providing locally produced, affordable clean energy to residents and businesses, community solar projects drive engagement and collaboration in communities through job creation, economic development and responsible land use.

— Solar Builder magazine

[source: https://solarbuildermag.com/projects/nautilus-landmark-acquisition-270-mw-community-solar/]