Nautilus Solar Energy and Foss & Company Forge $72 Million Tax Equity Partnership for Community Solar Projects

Nautilus Solar Energy, representing its affiliate Nautilus US Power Holdco, LLC (NUPH), a prominent community solar company, has announced a significant $72 million tax equity partnership with Foss & Company, a leading institutional investment fund sponsor. The investment is allocated towards a 62 MW portfolio comprising 16 projects located across Maine, Minnesota, New York, and Maryland. Notably, this collaboration marks the second partnership between the two entities.

Julian Erfurth, Executive Director of Capital Markets for Nautilus, emphasized the growing demand for community solar projects offering equitable and affordable renewable energy choices. He highlighted the partnership’s role in advancing a cleaner and more resilient energy sector, while also extending the reach of community solar initiatives across multiple US markets. The projects are slated to contribute much-needed alternative energy to the Northeast and Midwest regions, with full operational status expected by 2024.

Bryen Alperin, partner and managing director of renewable energy and sustainable technologies at Foss & Company, expressed enthusiasm for the collaboration with Nautilus Solar Energy. He lauded Nautilus as a leading force in community solar development and commended the collective efforts in bringing these projects to fruition. Alperin underscored the significance of providing affordable, clean energy to communities nationwide, acknowledging the dedication and innovation exhibited throughout the partnership.

NUPH assumes long-term ownership of the projects, with Nautilus Solar Energy taking charge of construction oversight, long-term performance maintenance, and customer subscription acquisition and management. Leveraging its proprietary community solar subscriber management and acquisition platform, Nautilus Solar Energy aims to ensure the seamless operation and success of these initiatives.