Nautilus Solar Energy, on behalf of its affiliate Nautilus US Power Holdco, and TurningPoint Energy announce their partnership on a 29.3-MW portfolio of community solar projects in Illinois. The portfolio of four community solar projects, located in Kankakee and Livingston counties, is projected to be operational by 2025. This collaboration strengthens the foothold of Nautilus in community solar, particularly its rapid growth in Illinois and is the first demonstration of TPE’s commitment to invest over $500 million in the Illinois Community Solar market.
The portfolio of projects is qualified under Illinois’ community solar program and helps support the state’s renewable energy goal of 40% by 2030 and 50% by 2040.
“We are thrilled to work with TPE on yet another transaction, the first in the Illinois market. Strategic partnerships like this play a pivotal role in expanding Nautilus’s capabilities and reaffirm our position as a leading community solar company with projects and subscribers located across the country,” said Eric Paul, VP of partner development at Nautilus Solar Energy.
Nautilus will be the long-term owner of the projects and is responsible for overseeing construction, maintaining its long-term performance, and acquiring and managing customer subscriptions. The projects will enable ComEd customers to save on their electric bills while supporting the expansion of renewable energy and Illinois’ ambitious clean energy goals. Combined, the projects will generate clean energy to serve the energy needs of over 3,000 homes and 100 commercial businesses. The four projects will also create construction and ongoing operational jobs along with collaboration and investment into local Illinois businesses on legal, permitting, engineering, construction and related activities to support these developments.
Additionally, TPE makes charitable community investment commitments in each of its community solar project communities. For these four projects, TPE has designated $75,000 in planned donations to local Kankakee County and Livingston County organizations. Nautilus will match TPE’s commitment for a combined $150,000 in community investment donations on this transaction alone.
News item from Nautilus Solar Energy
