Moose Power Completes Sale of Solar Projects
TORONTO, June 13, 2014 /PRNewswire-iReach/ — Moose Power Inc. (“Moose Power”), along with its partner Nautilus Solar Canada Inc. (“Nautilus”), has sold three projects to an investment vehicle of NewWorld Environmental Infrastructure, L.P. (“NewWorld”) and North Sky CleanTech Alliance Fund, L.P. (“North Sky”). This is the first step in a larger commitment by New World and North Sky to fund at least 28 projects representing 9.2 megawatts.
The three projects are located in Tillsonburg, Ontario, on the rooftops of buildings owned by E&E McLaughlin Limited, a partner of Moose Power since 2009.
“We are thrilled to have completed this transaction with NewWorld and North Sky. This sale will allow us to re-deploy our capital into new renewable energy projects,” said Andrew Knapp, Managing Director of Moose Power. David Munsky, Vice President of Nautilus Solar added “Our four year partnership with Moose Power has led to the successful development of 15MW of solar rooftop facilities in Ontario.”
Everett Smith, Managing Partner of GoldenSet Capital Partners, said “We are pleased to partner with Nautilus Solar and with Moose Power, a proven team, and to support the objectives of the Province of Ontario in expanding its base of clean energy. Through this investment NewWorld Infrastructure and GoldenSet Capital Partners have again achieved their objective of creating jobs in the near-term, environmental benefits for the longer term, and an attractive investment opportunity for the North Sky and NewWorld Infrastructure investors.”
About Moose Power
Founded in 2009, Moose Power is one of Ontario’s leading solar development companies. Moose Power develops, constructs, finances and manages solar power installations throughout the province, with a portfolio of 59 Feed-in tariff contracts either completed or under development. For more information, visit www.moosepower.com.
About Nautilus Solar Canada
Founded in 2006, Nautilus Solar is a leading North American independent solar power producer headquartered in Summit, New Jersey. Nautilus Solar develops, constructs, finances, owns and operates distributed generation solar electric systems. The company sells its generated power through long-term power purchase agreements, with approximately 96 MW owned and managed throughout the United States and Canada. Nautilus Solar is majority-owned by an investment affiliate of Starwood Energy Group Global, LLC, based in Greenwich, CT.
About NewWorld Environmental Infrastructure, L.P.
Founded in 2012, NewWorld Environmental Infrastructure, L.P. was established in collaboration with North Sky Capital to provide funding for clean infrastructure assets and companies. It is managed by GoldenSet Capital Partners (www.goldensetcapital.com), formerly NewWorld Infrastructure Group, and provides project equity for clean infrastructure assets and structured capital to companies engaged in deploying clean infrastructure. The General Partner of NewWorld Infrastructure is comprised of principals from NewWorld Capital Group and GoldenSet Capital Partners. NewWorld Capital Group (www.newworldcapital.net) is a New York based private equity firm that specializes in selected segments of the environmental business sector in the United States and Canada.
Moose Power Inc.
344 Dupont Street, Suite 307
Toronto, Ontario M5R 1V9
Nautilus Solar Energy, LLC
396 Springfield Avenue
Summit, NJ 07901
GoldenSet Capital Partners, LLC
Everett Smith III
60 Long Ridge Road
New York, NY 10022
Media Contact: Andrew Knapp, Moose Power Inc., 647-478-5438, firstname.lastname@example.org
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SOURCE Moose Power