ESA Signs Deal with Nautilus for 270 MW Great Lakes Solar Portfolio

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Jun 26, 2023, 14:39 ET

ORLANDO, Fla., June 26, 2023 /PRNewswire/ -- ESA is thrilled to announce a strategic co-development partnership with Nautilus Solar, who will acquire a portfolio of up to 270 MW DC community solar projects in the Midwest from ESA, a pivotal move towards encouraging early-stage community solar initiatives in the Great Lakes region.

This mutually beneficial relationship lays a strong foundation for ESA's sustainable growth trajectory, ensuring continued profitability while championing the core values of environmental stewardship and renewable energy advancement. Importantly, ESA will remain 100% owned by its original founding partners, reinforcing its commitment to its founding principles.

"We are proud to establish this co-development partnership with Nautilus," said Lindsay Latre, CEO of ESA. "This collaboration harnesses ESA's expertise in renewable energy and Nautilus' financial might and nimble transactional abilities. Together, we aim to create a lasting impact on the communities we serve, turning widespread renewable energy adoption into reality."

"By combining our resources, expertise, and capital," added Justin Vandenbroek, COO at ESA, "We're setting the stage for an equitable, sustainable future, further enhancing the economic opportunities the clean energy economy provides to rural communities across the United States."

Commenting on the partnership, Laura York, Vice President of Structuring at Nautilus, said, "We are thrilled to unite ESA's market savvy and development expertise with Nautilus's financial might and nimble transactional abilities. This partnership combines our complementary strengths, equipping us to navigate hurdles and risks together while driving transformative outcomes for early-stage development projects."

Piper Sandler Companies, a reputable advisor in the sector, played a key role in facilitating this strategic co-development partnership. Their expertise and guidance were instrumental in ensuring a transparent, mutually beneficial, and robust agreement that aligns with both ESA's and Nautilus's strategic objectives.

ESA and Nautilus are united in their dedication to pushing the clean energy transition forward. By harnessing their combined strengths, these two organizations are poised to make a significant impact on the Great Lakes region, paving the way for a future powered by clean, reliable, and accessible solar energy.

About ESA

ESA is a prominent clean energy development and decarbonization platform. Over the past decade, ESA has successfully transacted over 6 GW of operating solar energy projects and pre-construction development assets. Our diverse portfolio spans a broad array of asset classes, including installations at corporate headquarters, commercial and industrial facilities, community solar portfolios, and multi-100 MW utility-scale solar projects. ESA's influence extends across 22 states, where projects have interconnected with 27 distinct utilities. ESA operates with the freedom and flexibility inherent in a privately owned and managed corporation. To learn more about ESA, please visit our website at esa-solar.com.

SOURCE ESA Solar Energy