Starwood Energy Group Global LLC says an investment affiliate has acquired a majority interest in Nautilus Solar Energy LLC, a solar power generation developer headquartered in Chatham, N.J., to help fund future growth of Nautilus Solar. Specific terms of the transaction were not disclosed.
Starwood Energy's investment will provide working capital and facilitate an expansion of Nautilus Solar's corporate infrastructure. The funding also includes a $50 million commitment for future Nautilus Solar projects. Nautilus Solar currently has seven completed solar retail projects in operation and four solar projects under construction in New Jersey and Connecticut.
SOURCE: Starwood Energy Group Global LLC