Nautilus Solar Energy, LLC, representing its affiliate Nautilus US Power Holdco, LLC, has announced a strategic partnership with TurningPoint Energy (TPE) for the development of a 29.3-megawatt (MW) portfolio of community solar projects in Illinois. This collaboration marks Nautilus’s significant expansion in the community solar sector, particularly in Illinois, and represents TPE’s commitment to invest over $500 million in the Illinois Community Solar market.
The portfolio comprises four community solar projects situated in Kankakee and Livingston counties, slated to be operational by 2025. These projects are qualified under Illinois’ community solar program, aligning with the state’s renewable energy targets of 40% by 2030 and 50% by 2040.
Eric Paul, Vice President of Partner Development at Nautilus Solar Energy, expressed enthusiasm for the partnership, highlighting its role in bolstering Nautilus’s position as a leading community solar company with a national presence.
TurningPoint Energy’s President, Salar Naini, emphasized the company’s commitment to Illinois, stating that the collaboration with Nautilus marks the beginning of their significant investment in the state’s community solar market.
Nautilus will act as the long-term owner of the projects, responsible for construction oversight, long-term performance maintenance, and customer subscription management. The projects aim to provide ComEd customers with cost-saving opportunities on their electric bills while advancing renewable energy expansion in alignment with Illinois’ clean energy objectives. Collectively, the projects are projected to supply clean energy to over 3,000 homes and 100 commercial businesses.
Moreover, the development of these projects is expected to generate employment opportunities in construction and ongoing operational roles, fostering collaboration and investment in local Illinois businesses.
As part of their commitment to community engagement, TPE has pledged $75,000 in donations to local organizations in Kankakee County and Livingston County. Nautilus has also committed to matching TPE’s contribution, resulting in a combined $150,000 in community investment donations for this transaction alone.
Community solar programs play a vital role in the renewable energy landscape, offering locally produced, affordable clean energy solutions to residents and businesses. Beyond environmental benefits, the development of community solar projects promotes community engagement, economic development, and responsible land use practices.
Related
This post was originally published on 3rd party site mentioned in the title of this site
