Nautilus Solar Energy Closes $25M Credit Facility

Nautilus Solar Energy, an independent solar power producer, has executed a financing agreement with De Lage Landen to fund a minimum of $25 million of Nautilus Solar Energy installations in the U.S. throughout 2012.

The De Lage Landen facility will be used to fund several megawatts of photovoltaic generation in Florida, California and the Northeast, Nautilus says.

Using a sale-leaseback structure, Nautilus will develop, construct, finance and operate the photovoltaic facilities at host locations. The power will be sold either to commercial and industrial host customers or to utilities under long-term power purchase agreements.

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