Nautilus Solar Energy LLC, a community solar owner and operator, has acquired a 15.1 MW community solar development portfolio from SGC Power, a full life-cycle set provider of products that help solar asset owners invest, build and operate projects which give great financial returns.
The six projects are located across five counties and three separate utility territories in Maryland. The projects are at various stages of development and construction with most of the projects is expected to reach operational completion by Q4.
The six projects are part of a larger 32.8 MW portfolio of Nautilus community solar facilities located throughout the state. All projects are qualified under the Maryland Community Solar Pilot Program to bring clean, local, job-creating and affordable energy to all Marylanders.
“Nautilus is proud of our commitment in providing the benefits of solar power to Maryland residents, regardless of their income or housing situation,” says Jim Rice, co-founder and co-CEO of Nautilus Solar Energy.
“We’re excited to have completed our first transaction with SGC and look forward to more in the future,” he adds.
As part of Nautilus’s mission to make renewable energy accessible to all customers through community solar programs, a portion of the power is allocated specifically to qualifying low-to-moderate income (LMI) families. The LMI projects will provide a guaranteed 25% savings to more than 1,500 low-income subscribers in Baltimore Gas and Electric (BG&E), Potomac Edison, and Delmarva Power and Light Service Territories.
All other residential subscribers to Nautilus community solar projects are guaranteed to save 10% annually, as compared to traditional retail utility rates.
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