Chinese solar project developer Renesola Ltd. and US-based solar project developer company Nautilus Solar Energy, LLC announced Nautilus's acquisition of an approximately 13.3 MW community solar portfolio previously developed by Renesola. The community solar portfolio is located in Minnesota. The portfolio is expected to be built through the remainder of 2017, coming online during Q1 2018.
The projects will be owned by an affiliate of Virgo Investment Group, a minority shareholder of Nautilus Solar Energy. Nautilus will provide development and long-term asset management services for the project. The energy provided by the portfolio directly benefits local community off-takers located offsite by lowering overall energy procurement costs while advancing renewable energy targets.
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