New Jersey — Nautilus Solar has closed a $110 million tax equity commitment with Credit Suisse.
The facility will provide competitive long-term financing for twenty-two community solar projects across Colorado, Maryland, Minnesota, New York, and Rhode Island, amounting to approximately 75 MWdc of nameplate capacity. All projects in the portfolio are expected to be placed in service in 2021 and early 2022.
“Nautilus is pleased to once again work with Credit Suisse on this transaction, which will help finance community solar projects and bring affordable clean energy to thousands of residential customers,” said Laura E. Stern, co-CEO of Nautilus. “This marks the second transaction that Nautilus has closed with Credit Suisse in six months representing approximately $200 million in total capital. As Nautilus continues to expand into new community solar markets, we are thrilled to collaborate with Credit Suisse on innovative financing solutions.”