Nautilus Solar Energy, a North American owner and operator of solar projects for decentralized power generation and communal solar energy, has entered into a tax equity financing commitment of USD 95 million with a subsidiary of Credit Suisse.
The facility provides competitive long-term financing for fourteen community solar projects in Rhode Island, Maryland, New York and Minnesota. The nameplate capacity is approx. 55 MWdc. All projects in the portfolio are expected to be operational in 2020.
“Nautilus is pleased to have worked with Credit Suisse on this innovative financing. We look forward to expanding our business relationship in the future, ”said Laura E. Stern, Co-CEO of Nautilus. “This collaboration supports Nautilus’ sustainable growth model and further expansion into existing and emerging municipal solar markets. Credit Suisse’s flexibility and creativity in structuring this transaction demonstrates its clear leadership role in supporting emerging areas of solar finance. “
This transaction is the first joint solar portfolio financing for Credit Suisse. Marathon Capital acted as exclusive financial advisor to Nautilus on the transaction.
Message from Nautilus Solar Energy