New Jersey-based Nautilus Solar Energy LLC has completed a portfolio of 14 rooftop projects in Ontario, totaling approximately 4.1 MW.
The company expects to add an additional six projects totaling 1.9 MW to the portfolio by July.
The portfolio – representing projects of different sizes and investment structures – secured nonrecourse financing from Rabobank and equity funding from North Sky CleanTech Alliance Fund LP and NewWorld Environmental Infrastructure LP. The community investment partners include Green Energy Cooperative of Ontario Inc. and Eagle Lake First Nation.
The projects were co-developed in partnership by Nautilus Solar Energy, its Canadian subsidiary Nautilus Solar Energy Canada Inc. and Moose Power Inc. Each project has secured 20-year power purchase contracts under the Ontario Power Authority's feed-in tariff program.
In addition to developing the projects with Moose Power, Nautilus will also provide physical and financial asset management services.