Nautilus Solar Closes Financing On 9 MW Portfolio Of PV

Nautilus Solar Energy LLC has closed financing for a 9 MW portfolio of solar photovoltaic projects in the Northeast and California. The financing, provided by a subsidiary of U.S. Bancorp and an affiliate of KeyCorp, provides long-term tax equity and debt financing for a series of projects under 15- to 20-year power purchase agreements.

The projects are a combination of rooftop, canopy and ground-mounted in New Jersey, Maryland and California. The company owns or manages over 74 MW of PV projects and says it is pursuing a 100 MW pipeline over the next two years.

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