Nautilus Solar Energy LLC has purchased two community solar portfolios from Maine for its subsidiary Nautilus US Power Holdco LLC. The five projects are 26.2 MW each. The five projects are located in Cumberland and Penobscot Counties. The first projects will be operational by the third quarter 2022. The community solar projects will offer an alternative energy source to 6,000 households in Central Maine Power’s electric utility territory, as well as to commercial off-takers in the Versant electric utility area.
These portfolios are part of Maine’s Net Energy Billing program, amended by Governor Mills to provide renewable energy benefits and reduced costs for its residential customers. Nautilus is the long term owner of the projects. It is responsible for overseeing construction and maintaining its long-term performance. Any residential CMP customer is eligible to subscribe through Nautilus. There is no upfront cost, no long term commitment, and no cancellation fee.
These portfolios were purchased by Nautilus Solar through two separate transactions with BNRG Maine. It is a joint venture between BNRG Renewables, Dirigo Solar and BNRG Renewables. Both firms have extensive experience in developing solar projects in Maine. Nautilus owns and has developed more than 92MW in community solar projects in Maine. 52MW will be operational by Q3 2022, while 88MW will be operational by 2022.
“After our first successful transaction with the BNRG Maine team where we had to overcome many market challenges, it was a pleasure to work closely with them again on the second transaction,” says Daniela Pangallo, director of business development for Nautilus. “Not only did their local expertise expedite timelines and reduce development risks in this emerging solar market, but they also proved once again to be creative and reliable partners. We really appreciate the opportunity for repetitive business with them.”
“Nautilus is a leader in the community solar space and clearly dedicated to supporting Maine’s energy growth,” states Nicholas Mazuroski, co-founder for Dirigo Solar. “Their team appreciates the local importance of these assets, and we look forward to supporting them through energization for the benefit of Maine homes and businesses.”
“BNRG Dirigo is delighted to work with the Nautilus team to bring these community solar assets online, providing both green power and significant savings to Mainers,” adds Rebecca Kelly, head of investment and financing at BNRG Renewables. “Through this portfolio and BNRG Maine’s broader investment in solar deployment in Maine, we continue our investment and belief in Maine as a strong leader and supporter of the energy transition.”