Nautilus Solar Energy, a community solar company in the United States, has successfully secured $202 million in funding for a 186MW portfolio primarily composed of community solar projects.
This financial milestone was achieved through Nautilus Solar Energy's affiliate, Nautilus US Power Holdco, which completed the issuance of senior secured notes to institutional investors in a private placement transaction. The extensive portfolio encompasses 58 projects that are currently operational and spread across seven U.S. states.
Jeffery Cheng, CEO of Nautilus Solar Energy, expressed optimism about the company's future prospects, stating, “With the successful closing of this private placement transaction, we are even more well-positioned to continue to grow our community solar business throughout the country. Nautilus Solar is demonstrating how successful renewable energy companies can reach new milestones of financial sustainability.”
The private placement's successful completion also underscores institutional investors' growing interest in Nautilus and the burgeoning community solar market. The company emphasized that the community solar segment has established itself as a secure and attractive investment category within the renewable energy sector.
Prior to this significant funding achievement, Nautilus Solar Energy expanded its portfolio by acquiring a 270MW project portfolio from ESA, a U.S.-based solar development platform, in June.
