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Last updated on April 23, 2014 at 16:13 EDT

Nautilus Solar Completes 1.25 MW of Projects Under the OPA’s Feed-in-Tariff

November 7, 2011

SUMMIT, N.J., Nov. 7, 2011 /PRNewswire/ — Nautilus Solar Energy, LLC (“Nautilus Solar”) announced the commercial operation of three rooftop solar PV systems in Ontario, Canada with an installed capacity totaling 1.25MW. The projects are owned by Nautilus Solar Canada Limited Partnership, an affiliate of Nautilus Solar and are supported by the Ontario Power Authority’s (“OPA”) Feed-in-Tariff (“FIT”) program. Under this program, the OPA purchases the solar electricity produced for a fixed rate over a 20 year term. By producing over 1.5 million kWh of solar energy annually, the projects will offset approximately 1,000 tons of CO2 or the equivalent emissions from the electricity use of 128 homes. The projects were installed by Advanced Green Technologies, Inc. Nautilus Solar is leasing the rooftop space from E&E McLaughlin LTD Warehousing.

(Photo: http://photos.prnewswire.com/prnh/20111107/NY01222 )

“These projects represent the first of many in our Ontario rooftop program,” remarked Nautilus Solar’s CEO James M. Rice. “Ontario has shown great leadership by implementing the FIT program. We at Nautilus Solar are excited to help the province meet its renewable goals.”

Nautilus Solar has another three solar rooftop projects under construction in Ontario, which will bring its total investment in the province to over $20 million. These projects are expected to be completed over the next few months. In addition, Nautilus Solar has over 10MWs of projects in the FIT queue awaiting approval from the OPA. “We are actively growing our executable pipeline and we welcome the opportunity to review additional opportunities from other developers and property owners,” said David Munsky, Nautilus Solar’s Director of Business Development.

Nautilus Solar manages one of the largest portfolios of solar projects in Ontario, including 60MW of solar facilities in the City of Sault Ste. Marie owned by an affiliate of Starwood Energy Group Global, LLC. That project has 50MW in operation and 10MW currently under construction.

Developers and property owners interested in speaking with Nautilus Solar about their projects should contact David Munsky at (908) 795-3038 or david@nautilussolar.com.

About Nautilus Solar Energy, LLC:

Founded in 2006, Nautilus Solar is a leading independent solar power producer headquartered in Summit, New Jersey. Nautilus Solar develops, constructs, finances, owns and operates distributed generation and utility-scale solar electric systems. The company sells its generated electricity through long-term power purchase agreements. Nautilus Solar is majority-owned by an investment affiliate of Starwood Energy Group Global, LLC, based in Greenwich, Connecticut. For more information, please visit the website at www.nautilussolar.com.

SOURCE Nautilus Solar Energy, LLC


Source: PR Newswire