Nautilus Acquires Rhode Island Community Solar Project

Nautilus Solar Energy LLC, a nationwide owner-operator of distributed and community solar projects, says it has acquired a 3.5 MW community solar project in Cranston, R.I., from ISM Solar Development LLC, a developer of large commercial and utility-scale solar projects. 

This project is unique as it resides on a closed landfill that is a former EPA superfund site.  It effectively makes use of land that was otherwise unusable. This is Nautilus’s second acquisition from ISM Solar in Rhode Island, having previously closed on the acquisition of a 3.3 MW solar project in the state last year.

The project is qualified under Rhode Island’s Community Remote Net Metering solar program, which allows Rhode Islander subscribers who want to reduce their carbon emissions – but cannot install solar panels on their own homes – to purchase solar power at a discount to the standard electric service rate.  The solar system is expected to serve approximately 700 customer households that reside in National Grid’s territory.  

Construction is targeted for completion in the third quarter of 2020.  

Nautilus, as the owner-operator, will be responsible for the construction, customer acquisition and management, and the long-term operations and management of this project. 

“We are pleased to further extend our presence in the Rhode Island marketplace and offer the benefits provided by such a unique community solar project to a wider audience of local constituents,” says Jeffrey Cheng, president of Nautilus.

Nautilus is the leading community solar developer in Rhode Island, with more than 30 MW of community solar projects operational or under construction in the state.  It expects to serve more than 5,000 residential customers by 2021, giving strong support to Rhode Island Governor Raimondo’s renewable energy goal to provide 100% of the state’s electricity needs by 2030, notes the company.

Subscriptions are now available to eligible customers through Arcadia Power. 

Photo: A Nautilus community solar project.

The post Nautilus Acquires Rhode Island Community Solar Project appeared first on Solar Industry.

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