Nautilus Solar Energy and Swinerton Renewable Energy Announce Partnership Agreement
Leading Commercial Solar Companies Combine Efforts to Provide Full Integrated Asset Management Services
Jul 28, 2015, 08:00 ET
SUMMIT, N.J., July 28, 2015 /PRNewswire/ -- Nautilus Solar Energy, LLC, a leading full service solar solutions provider in the United States and Canada, and Swinerton Renewable Energy, an Engineering, Procurement, and Construction (EPC) company, providing Operations and Maintenance (O&M) services for renewable energy projects under the name, SOLV®, are pleased to announce an agreement to provide combined Asset Management services to utility-scale (grid-tied) customers in the United States.
Both entities recently established new divisions to address the growing demand for asset management services. Nautilus Solar has been providing its customers with asset management services since 2007. Seeing the demand in the solar market, the company launched an asset management division. Now branded as Integrated Asset Management, this division offers physical, operational and financial asset management functions designed to enhance system performance, mitigate risk and protect asset value. SOLV provides design engineering services, plant controls, performance analytics, asset management, optimization, monitoring, and management utilizing the SOLV software platform.
Recognizing each entity's respective strengths and common vision regarding a "total or integrated" asset management solution for third-parties customers, Nautilus and SOLV will leverage their expertise to provide a full suite of seamless asset management services for utility-scale customers throughout the United States. For these target customers, Nautilus will provide financial asset management services with SOLV providing physical and operational asset management services.
The solar industry continues to grow at an accelerated rate. According to the Solar Energy Industries Association (SEIA), 51 percent of all new electric capacity installed through the first quarter of 2015 was from solar. While the focus of the industry during its early years was on getting systems up and running, it is now shifting to asset management as stakeholders recognize the need to maintain or increase their returns on investment (ROI).
"This partnership solidly puts both Nautilus and SOLV in the forefront of providing comprehensive asset management solutions," said Jim Rice, Nautilus's CEO. "Although there are many solar stakeholders performing some asset management functions, few perform a "one-stop shop" of interdependent asset management services which can offer solar stakeholders a significant opportunity to increase their ROI," added Rice.
"We're very excited to work with the Nautilus team," remarked George Hershman, Vice President and Division Manager of Swinerton Renewable Energy. "The combined marketing and service delivery efficiency of this partnership will help both companies expand their asset management customer base and showcase a multitude of services and capabilities."
About Nautilus Solar Energy, LLC:
Founded in 2006, Nautilus Solar Energy, LLC, is a leading full service energy solutions provider headquartered in Summit, N.J. Nautilus is making solar possible by developing, funding, executing and managing the physical and financial aspects of distributed generation solar electric projects for business and public sector customers across North America. The company delivers full service financial and technical expertise by customizing the optimal solar solution to save customers money while helping them meet their sustainability goals. Nautilus has over 100 MW—both distributed and grid tied systems---under management in the United States and Canada. Nautilus is majority-owned by an investment affiliate of Starwood Energy Group, LLC, based in Greenwich, Conneticut. For more information, visit www.nautilussolar.com.
About Swinerton:
Swinerton Renewable Energy offers engineering, procurement, construction, and SOLV® services for solar photovoltaic plants throughout North America to a diverse range of clients. Over 127 years of building landmark projects, Swinerton has forged a reputation for unsurpassed safety, workmanship, on-time delivery, and customer satisfaction. Today, the Swinerton team takes pride in building cost-effective solar systems that will generate reliable, clean power for many years to come. SRE has delivered over 650 MW solar projects and our SOLV team manages over 1 GW of PV plants. For more information on Swinerton Renewable Energy, visit its blog, Swinerton Builds Tomorrow and Twitter.
SOURCE Nautilus Solar Energy, LLC