Nautilus Closes $95 Mn Community Solar Financing with Credit Suisse

The facility will provide competitive long-term financing for fourteen community solar projects across Rhode Island, Maryland, New York, and Minnesota, amounting to approximately 55 MWdc of nameplate capacity. All projects in the portfolio are expected to be placed in service in 2020.

November 25, 2020. By Manu Tayal

Nautilus Solar Energy, a leading owner-operator of distributed generation and community solar projects located throughout North America, has closed a USD 95 million tax equity financing commitment with an affiliate of Credit Suisse.

The facility will provide competitive long-term financing for fourteen community solar projects across Rhode Island, Maryland, New York, and Minnesota, amounting to approximately 55 MWdc of nameplate capacity. All projects in the portfolio are expected to be placed in service in 2020.

“Nautilus is delighted to have worked with Credit Suisse on this innovative financing. We look forward to growing our business relationship in the future,” said Laura E. Stern, co-CEO of Nautilus. “Such collaboration supports Nautilus's sustainable growth model and further expansion into existing and emerging community solar markets. Credit Suisse's flexibility and creativity in structuring this transaction demonstrates its clear leadership in supporting emerging areas of solar financing.”

This transaction is the first community solar portfolio financing for Credit Suisse. Marathon Capital, LLC acted as exclusive financial advisor to Nautilus on the transaction.

Nautilus is a leading owner-operator of distributed generation and community solar projects located throughout North America. Over its 14-year history, the Nautilus team has successfully developed, acquired, managed and invested more than USD 1.2 billion of capital into solar projects. It is wholly owned by Power Energy Corporation, a subsidiary of Power Corporation of Canada, a global diversified management and holding company.

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