Nautilus acquires 16.8 MW Minnesota community solar portfolio from Sunrise Energy Ventures

Minnesota map outline

Nautilus Solar Energy and Sunrise Energy Ventures are adding 12 community solar projects in Minnesota totaling 16.8 MW of solar capacity. The projects are located in Blue Earth, Sherburne, Wabsha, Winona, Sibley, Wright, Pope, and Meeker Counties. The completed community solar projects will provide an alternative energy option to 4,200 households in Minnesota within the Xcel Energy electric utility territory.

SEV developed the projects as part of Xcel Minnesota’s Solar Rewards community solar program, which has allowed over 825 MWac of completed projects since the start of the program. Nautilus is the long-term owner of the projects and responsible for overseeing construction, maintaining their long-term performance, and acquiring and managing customer subscriptions. Residential Xcel Energy utility customers in Minnesota who reside in the same or adjacent counties to a project can become subscribers through Nautilus at no charge and with no long-term commitment or cancellation fees.  

The projects are in various stages of development with the first several projects expected to reach operations by the end of 2022. Once fully operational, the projects are expected to generate approximately 26 million kWhs annually, contributing to Minnesota’s goals of providing economic growth, workforce opportunities and 25 percent clean energy goals by 2025.

This is the initial transaction between Nautilus Solar and SEV. Both firms have significant experience in the Minnesota market. Nautilus Solar has previously acquired and developed more than 45 MW of community solar projects in Minnesota. SEV has developed more than 100 MW in Minnesota, its home market.

“Nautilus is excited to expand our residential community solar offerings in the Minnesota market and to provide clean energy and financial savings to thousands of Minnesota residents,” said Eric LaMora, Director of Community Solar for Nautilus. “It was great partnering with an experienced developer like Sunrise Energy Ventures on this transaction,” added Eric Paul, Executive Director of Origination for Nautilus.

“I think the merger of our two skillsets improves the likelihood of success in Minnesota, a very difficult and highly competitive market. SEV looks forward to working with Nautilus, who has extensive experience in community solar as well as commercial and industrial markets in the U.S.,” said SEV CEO Dean Leischow

The Minnesota community solar program continues to be one of the largest in the nation. Community solar provides the benefit of locally produced, affordable solar energy without any rooftop panels to install or upfront fees. Any Xcel customers who pay an electric bill can subscribe to a solar project in their area, helping to build stronger communities, fight climate change, and save on their electricity bill.

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