Nautilus Solar Energy LLC has acquired a 75.6 MW portfolio, consisting of 16 community solar projects. These projects are located throughout Illinois and are projected to be operational between 2025 and 2027.
The portfolio of projects is qualified under Illinois’ community solar program and helps support the state’s renewable energy goal of 40% by 2030 and 50% by 2040.
“This acquisition marks a significant commitment to the Illinois market and is a pivotal step towards expanding Nautilus’s overall footprint in the Midwest,” said Jeff Lee, business development director at Nautilus. “The scale of this acquisition underlines Nautilus’s capabilities and reaffirms our position as a leading community solar company with projects and subscribers located across the country.”
Nautilus is the long-term owner of the projects and is responsible for overseeing construction, maintaining its long-term performance, and acquiring and managing customer subscriptions. The projects will enable both Ameren and ComEd customers to save on their electric bills while supporting the expansion of renewable energy and Illinois’ ambitious clean energy goals. Combined, the projects will generate clean energy to serve the energy needs of around 10,000 homes and commercial businesses.
“Our focus is not just on producing clean energy but ensuring that the benefits, particularly the cost savings, reach every Illinoisan, especially those from low-to-moderate income backgrounds and historically disadvantaged communities,” said Eric Paul, VP of partner development.
Community solar programs are one of the fastest-growing sectors of the renewable energy industry, providing locally produced, affordable clean energy to residents and businesses. The development of community solar projects drives engagement and collaboration in communities through job creation, economic development, and responsible land use.
Nautilus Solar Energy operates and manages solar farms in 10 states and is responsible for financing, development, maintenance and customer service for the lifetime of the project. Founded in 2006, the company is owned by Power Sustainable, a wholly owned subsidiary of Power Corporation of Canada.
Tags: Community Solar, Illinois, Nautilus Solar Energy
