Nautilus Solar Energy, on behalf of its subsidiary Nautilus US Power Holdco, and TurningPoint Energy announce their partnership for a 29.3 MW portfolio of community solar projects in Illinois. The portfolio of four community solar projects, located in Kankakee and Livingston counties, is expected to be operational in 2025. This partnership strengthens Nautilus’ position in community solar, particularly its rapid growth in Illinois, and is the first demonstration of TPE’s commitment to investing across $500 million in the Illinois Community Solar market.
The portfolio of projects falls under Illinois’ Community Solar Program and helps support the state’s renewable energy goal of 40% by 2030 and 50% by 2040.
“We are pleased to be working with TPE on yet another transaction, the first in the Illinois market. Strategic partnerships like these play a critical role in expanding Nautilus’ capabilities and reaffirming our position as a leading solar company with projects and subscribers across the country,” said Eric Paul, VP of partner development at Nautilus Solar Energy.
Nautilus will be the long-term owner of the projects and will be responsible for overseeing construction, maintaining long-term performance and acquiring and managing customer subscriptions. The projects will enable ComEd customers to save on their electric bills while supporting the expansion of renewable energy and Illinois’ ambitious clean energy goals. Combined, the projects will generate clean energy to meet the energy needs of more than 3,000 homes and 100 commercial businesses. The four projects will also create construction and ongoing operations jobs, along with collaboration and investment in local Illinois businesses in legal, permitting, engineering, construction and related activities to support these developments.
In addition, TPE makes charitable investment commitments in each of its community solar projects. For these four projects, TPE has allocated $75,000 in planned donations to local organizations in Kankakee County and Livingston County. For this transaction alone, Nautilus will match TPE’s commitment for a combined $150,000 in community investment donations.
News item from Nautilus Solar Energy
