SUMMIT, N.J., Sept. 27, /PRNewswire/ -- Nautilus Solar Energy ("Nautilus Solar") today announced the acquisition of the Meadows Field Airport solar facility ("Project") from Regenesis Power, LLC ("Regenesis Power"). The 880kW one-axis tracking solar photovoltaic facility is located in Bakersfield, California at Meadows Field Airport.
"We are very pleased to have completed this acquisition. This is an excellent asset with a strong operating history and a highly experienced staff. We look forward to working with Meadows Field Airport and Kern County to help them service their customer base," said Nautilus Solar CEO James M. Rice.
Regenesis Power CEO John Polumbo said, "Meadows Field Airport has demonstrated leadership in the field of airport and municipal development with its smart energy strategy and they have been exemplary partners throughout this entire process." He added, "We are pleased to have successfully concluded this transaction with Nautilus Solar, they have been an excellent team to work with."
The Project is one of the largest operating municipal solar installations in Kern County, California, covering six acres. The transaction represents another strategic step in Nautilus Solar's development efforts. With a robust project portfolio in the Northeast, Nautilus Solar is aggressively pursuing project development opportunities on the West Coast, including California.
About Nautilus Solar Energy:
Founded in 2006, Nautilus Solar Energy, LLC ("Nautilus Solar") is a leading independent solar power producer headquartered in Summit, New Jersey. Nautilus Solar develops, constructs, finances, owns and operates distributed generation and utility-scale solar electric systems. The company sells its generated electricity through long term power purchase agreements. Nautilus Solar is majority-owned by an investment affiliate of Starwood Energy Group Global, LLC, based in Greenwich, CT.
Nautilus Solar was named a winner of the NJ BPU Clean Energy Award, as Trade Ally of the Year in 2009. For more information, please visit the website at www.nautilussolar.com.
About Regenesis Power LLC:
Founded in 2006, Regenesis Power, LLC ("Regenesis Power") is a turnkey solar solutions provider that enables utilities, local governments, and businesses to access the full potential of solar energy's benefits. The company leads the design, construction, finance and operations of commercial and utility-scale solar projects with both photovoltaic and mass-distributed consumer solar thermal solutions throughout the U.S.
SOURCE Nautilus Solar Energy, LLC