SUMMIT, N.J., April 22, 2021 /PRNewswire/ -- Nautilus Solar Energy, LLC (Nautilus), a leading owner-operator of distributed generation and community solar projects located throughout North America has closed a $110 million tax equity commitment with Credit Suisse. The facility will provide competitive long-term financing for twenty-two community solar projects across Colorado, Maryland, Minnesota, New York, and Rhode Island, amounting to approximately 75 MWdc of nameplate capacity. All projects in the portfolio are expected to be placed in service in 2021 and early 2022.
"Nautilus is pleased to once again work with Credit Suisse on this transaction, which will help finance community solar projects and bring affordable clean energy to thousands of residential customers," said Laura E. Stern, co-CEO of Nautilus. "This marks the second transaction that Nautilus has closed with Credit Suisse in six months representing approximately $200 million in total capital. As Nautilus continues to expand into new community solar markets, we are thrilled to collaborate with Credit Suisse on innovative financing solutions."
About Nautilus Solar Energy, LLC
Nautilus Solar Energy, LLC [Nautilus] is a leading owner-operator of solar projects focused on large industrial and community solar markets located throughout the United States. A pioneer in solar energy since 2006, Nautilus is committed to creating a clean, sustainable future by offering an equitable and affordable renewable energy choice. Through its Community Solar initiative, Nautilus is making solar energy available to a broader marketplace, including low to middle income (LMI) households and unrated businesses that wish to reduce their carbon footprint and utility bills.
Nautilus is wholly-owned by Power Sustainable, a global multi-platform alternative asset manager with a long-term investment approach focused on sustainable strategies. Nautilus owns solar projects throughout their entire lifecycle enabling Nautilus, along with entrusted local partners, to fulfill its promise of creating a better world by powering communities with clean energy for the long term.
SOURCE Nautilus Solar Energy, LLC