Nautilus Solar Energy, on behalf of its subsidiary Nautilus US Power Holdco, LLC, and Sunrise Energy Ventures (“SEV”) announce the acquisition of up to twelve community solar projects in Minnesota totaling 16.8 MW of solar capacity. The projects, located in Blue Earth, Sherburne, Wabsha, Winona, Sibley, Wright, Pope, and Meeker Counties, are in various stages of development with the first several projects expected to reach operations by the end of 2022. Once completed, the community solar projects will provide an alternative energy option to 4,200 households in Minnesota within the Xcel Energy (“Xcel”) electric utility territory.

When fully operational, the projects are expected to generate approximately 26 million kWhs annually, contributing to Minnesota’s goals of providing economic growth, workforce opportunities and 25 percent clean energy goals by 2025.

This is the initial transaction between Nautilus Solar and SEV. Both firms have significant experience in the Minnesota market. Nautilus Solar has previously acquired and developed more than 45 MW of community solar projects in Minnesota. SEV has developed more than 100 MW in Minnesota, its home market. 

“Nautilus is excited to expand our residential community solar offerings in the Minnesota market and to provide clean energy and financial savings to thousands of Minnesota residents,” said Eric LaMora, Director of Community Solar for Nautilus. “It was great partnering with an experienced developer like Sunrise Energy Ventures on this transaction,” added Eric Paul, Executive Director of Origination for Nautilus.

“I think the merger of our two skillsets improves the likelihood of success in Minnesota, a very difficult and highly competitive market. SEV looks forward to working with Nautilus who has extensive experience in community solar as well as commercial and industrial markets in the U.S.,” said SEV CEO Dean Leischow.