Nautilus Solar Closes $600 Million Facility to Expand Community Solar Portfolio
Nautilus Solar Energy has closed a $600 million construction debt facility to accelerate the development of its community solar pipeline across the United States.
The facility was supported by a consortium of lenders including National Bank of Canada, Royal Bank of Canada, Export Development Canada, Siemens Financial Services, The Huntington National Bank, and Sumitomo Mitsui Banking Corporation.
According to the company, the financing will support the construction of approximately 200 MW of new community solar projects, strengthening its position as one of the largest operators in the U.S. sector. Nautilus currently manages close to 600 MW of operating assets and expects to reach around 750 MW by the end of 2027.
Community solar continues to expand in the U.S. as electricity prices remain elevated and demand grows for distributed, locally generated renewable energy. The company said the new capital will help accelerate deployment across multiple states, expanding access to lower-cost clean electricity for households and businesses.
The transaction reflects continued strong appetite from institutional lenders for renewable energy infrastructure, particularly within distributed generation and community-scale solar markets.
Source: finance.yahoo.com
