Nautilus Solar Energy has acquired a 31.5 MW portfolio of working solar project property from Virgo Investment Group.

The portfolio of neighborhood solar and enormous C&I initiatives spans seven states, from California to Rhode Island, and serves clientele together with hospitals, housing authorities, a neighborhood faculty and residential clients beneath long-term power buy agreements. The initiatives had been positioned into operation between 2016 and 2019.

Nautilus initially developed, financed and managed the initiatives in partnership with Virgo and can proceed to function them as a part of Nautilus’s increasing portfolio.

“Nautilus is delighted to be able to continue working with the projects’ customers, SREC purchasers, landowners and other project counterparties. The acquisition of the Virgo Helios I portfolio reinforces Nautilus’s position as a long-term owner of solar assets,” says Laura Stern, co-CEO of Nautilus Solar. “With its geographic diversity and mix of customers, this portfolio is an excellent addition to our growing base of projects under ownership.”

The vendor and purchaser had been suggested and represented by Fifth Third Bank and Morrison & Foerster, and National Bank Financial and Rath, Young and Pignatelli, respectively.

Photo: A Nautilus Energy solar project

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