Nautilus buys 17 MW portfolio from solar energy developer Pine Gate
By Nikita Chaurasia  Date: 2020-09-24

Nautilus buys 17 MW portfolio from solar energy developer Pine Gate

Solar project development and asset management major, Nautilus Solar Energy LLC, has reportedly announced its acquisition of two solar portfolios in Rhode Island and Oregon amounting to a total of nearly 17 MW from leading solar energy developer, Pine Gate Renewables. While both projects are in the early-to-mid stages of development, Nautilus has decided to take each portfolio to completion by being responsible for the maintenance and long-term asset management for these projects.

According to Jeffrey Cheng, the President of Nautilus Solar Energy, the company will significantly extend its renewable energy presence in Rhode Island and Oregon with these acquisitions. He has further stated that this transaction exemplifies Nautilus’s dedication to becoming a leading buyer of solar portfolios as well as working in close cooperation with partners in its early stage development.

The 3MW development site in Rhode Island is situated in the Providence County and will reportedly generate enough energy to power the equivalent of 680 households located within the National Grid service territory. While the project is likely to be placed in service over 2022, the purchase of this site is an essential advancement in Nautilus’s dedication towards clean energy in Rhode Island, thereby escalates the company’s solar portfolio in the state to more than 34MW.

As per reports, the 14MW portfolio in Oregon comprises five developments situated across four counties in Western Oregon. The energy produced out of these projects will directly prove to be beneficial for qualified residential off-takers located within the Pacific Power and Portland General Electric (PGE) service territories by offering energy cost savings and advancing the state’s total community renewable and solar objectives.

Patty Wright, the Vice President of Development at Pine Gate Renewables, has stated that the company is glad that Nautilus Solar has acquired these projects for delivering more renewable energy to Rhode Island and Oregon. He has further added that Pine Gate works with developers and landowners at all stages of a project’s lifecycle, effectively generating long-term asset value for its customers.

 

Source Credits:

https://nautilussolar.com/news/nautilus-solar-energy-acquires-17-mw-solar-portfolio-from-pine-gate-renewables/

About Author

Nikita Chaurasia    

Nikita Chaurasia

An accomplished professional in the field of content development, playing with words comes naturally to Nikita Chaurasia. After completing her post-graduate MBA degree in Advertising and PR, Nikita worked across numerous content-driven verticals, undertaking diverse r...

Read More

More News By Nikita Chaurasia

Nokia, Greener Acres partner to boost smart city development in Canada
Nokia, Greener Acres partner to boost smart city development in Canada
By Nikita Chaurasia

According to reliable sources, Finnish multinational telecommunication, consumer electronics and information technology company Nokia Corp. has reportedly signed an agreement with Greener Acres Canada Inc. to collectively develop and upgrade the util...

OneOncology launches OneR to accelerate clinical research programs
OneOncology launches OneR to accelerate clinical research programs
By Nikita Chaurasia

In recent developments, Tennessee-based oncology medical service provider OneOncology Inc., has reportedly announced the establishment of a newly formed subsidiary named OneR (OneOncology Research Network). Sources close to the matter claimed that O...

Helix Technologies, MOR Analytics to unite under new banner Forian Inc.
Helix Technologies, MOR Analytics to unite under new banner Forian Inc.
By Nikita Chaurasia

According to reliable sources, U.S.-based critical infrastructure service provider of cannabis industry, Helix Technologies Inc. has reportedly announced a strategic merger with Medical Outcomes Research Analytics LLC (MOR Analytics) to become wholly...

German software firm Celonis launches the market’s first EMS
German software firm Celonis launches the market’s first EMS
By Nikita Chaurasia

Celonis, a German leader in AI-enhanced Process Excellence and Process Mining, has reportedly launched the first EMS (Execution Management System) of the industry. The company has specifically developed the EMS to remove system complexity, which is t...

Informatica adds advanced capabilities to enterprise cloud platform
Informatica adds advanced capabilities to enterprise cloud platform
By Nikita Chaurasia

Informatica, a leading US based enterprise cloud data management firm, has reportedly rolled out new, enhanced capabilities that are designed to help its clients become cloud-native, cloud-first in the COVID-19 pandemic. IDC (International Data Corpo...