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Written by: Leonard Parker | Solar News | 24th June
Solar owner-operator Nautilus Solar Energy LLC has acquired a 6.34 MW DC community solar project in New York from Saturn Power Inc., a Canadian renewable energy developer.
The project, located in Norwich, N.Y., in NYSEG utility territory, is expected to start construction in Q2 2021. When fully operational, it will generate approximately 9 million kWh annually.
This is the first transaction between Nautilus and Saturn Power. As the landowner, Nautilus has a long-term commitment to the projects, including being responsible for the project management, asset management, maintenance services, and for acquiring and managing customer subscriptions.
“This acquisition extends Nautilus’s vision towards a sustainable future by providing equitable, affordable access to community solar for all New Yorkers,” says Jim Rice, co-founder and co-CEO of Nautilus Solar.
“When looking to transition this project to a local owner and operator, we pursued an organization with common values and a vision for renewable development that was consistent with Saturn Power’s, and we are delighted that Nautilus will be seeing this project through to commercial operation and beyond,” adds Doug Wagner, CEO of Saturn Power.