January 24, 2024
Nautilus Solar Energy® and Foss & Company Announce $72 Million Tax Equity Partnership
SUMMIT, NJ, January 24, 2024 — Nautilus Solar Energy®, LLC (“Nautilus”) on behalf of its affiliate Nautilus US Power Holdco, LLC (”NUPH”), a leading community solar company, and Foss & Company, a leading institutional investment fund sponsor, announced a $72 million tax equity partnership. The investment covers a 62 MW portfolio of 16 projects spread across Maine, Minnesota, New York, and Maryland. This is the second partnership between the two companies.
"The collaboration with Foss & Company highlights the growing demand for community solar projects that offer an equitable and affordable renewable energy choice," said Julian Erfurth, Executive Director of Capital Markets for Nautilus. "This partnership not only reinforces our commitment to advancing a cleaner, more resilient energy sector but also expands the reach of community solar across numerous US markets. We are proud to be part of the clean energy transition.”
These projects aim to provide much-needed alternative energy to the Northeast and Midwest regions of the United States and are expected to be fully operational in 2024.
"We're thrilled to be partnering with Nautilus Solar Energy again on this significant community solar portfolio,” said Bryen Alperin, partner and managing director of renewable energy and sustainable technologies, Foss & Company. “This marks our second successful deal with Nautilus, a leading force in community solar development. We extend our deepest gratitude to all involved for their hard work, dedication and innovative spirit in bringing these projects to life and providing affordable, clean energy to communities across the country."
NUPH is the long-term owner of the projects, with Nautilus Solar Energy responsible for overseeing construction, maintaining its long-term performance, and acquiring and managing customer subscriptions through its proprietary community solar subscriber management and acquisition platform.
About Nautilus Solar Energy
Nautilus Solar Energy®, LLC is a leading community solar company, providing clean energy to residential and commercial customers in local communities. Nautilus 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, Nautilus has helped shape the future of solar to provide an equitable and affordable renewable energy choice for all. Nautilus is owned by Power Sustainable, a wholly-owned subsidiary of Power Corporation of Canada. Power Sustainable is a multi-platform alternative asset manager with a long-term investment approach focused on sustainable strategies. For more information on Nautilus Solar Energy visit nautilussolar.com. Join Nautilus on LinkedIn, Facebook, Instagram, and Twitter.
About Foss & Company
Founded in 1983, Foss & Company is a national tax equity investor and fund sponsor that has deployed over $8 billion in tax equity on behalf of insurance, banking, and other large corporate clients into tax credit-enhanced transactions including historic rehabilitation projects, renewable energy and advanced energy production facilities. Foss & Company is a full-service advisor with proven expertise navigating the world of tax equity investments. For additional information, visit www.fossandco.com.
Nautilus Solar Energy