Nautilus Solar Energy has announced the acquisition of a ~13.5 MWdc community solar portfolio from Clean Energy Collective (CEC). CEC is the nation’s leading community solar developer, pioneering the model of delivering clean power-generation through medium scale solar PV facilities since 2009. Nautilus Solar Energy is a leading solar energy company based in New Jersey.
The projects are based in Massachusetts and New York, where solar energy has a rapidly expanding market. These industry leaders have worked together on projects before. CEC providing land acquisition, project development, and construction management services while Nautilus focuses their efforts on providing early-stage development capital and will continue their role for long-term asset management services and maintenance for the project. Distribution of efforts for this acquisition effort will be similar.
Customers will have the best of both worlds in their community solar experience knowing they are working with two solar industry leaders. “Bringing these projects to a successful completion allowed us to expand our reach with community solar, providing more customers in Massachusetts and New York – in addition to the 15 other states we’re currently operating in” said Tom Sweeny, CEC President of Renewables. “This transaction marks the official entry into New York’s community solar market” said Jeffrey Cheng, COO of Nautilus Solar.
This endeavor will allow subscribers in New York and Massachusetts to further their commitment to clean, renewable energy while saving money on their utility bill. Going forward with this merger will signify an important convergence with two reputable companies working together to achieve a common goal – providing solar to new markets.
Read the full press release.