Nautilus Solar Energy® LLC announced it closed its largest single debt transaction to date: a $275 million, long-term debt facility.
The deal will expand the company’s base with three new financial partners, MUFG, SMBC, and Apterra Infrastructure Capital. The move underscores strong market confidence in Nautilus and the long-term value of community solar.
The capital will support over 25 community solar projects on track to come online over the next year across Illinois, Maryland, Delaware, New York, and Rhode Island for a total of 130MW of capacity, putting Nautilus’ total operating and managed portfolio at 700MW.
The expansion will deliver renewable energy to more than 11,000 homes and small businesses.
The deal emphasizes the role of community solar in expanding energy access, supporting local economic growth, and driving the transition to a more sustainable energy future.
“This is the largest single debt raising effort in Nautilus’s history, and the first time we’ve brought on a completely new group of lending partners all at one time,” said Camelia Miu, Chief Financial Officer of Nautilus Solar Energy, in a statement. “Securing a $275 million commitment in today’s challenging debt market demonstrates the strength of our business and the confidence well-respected financial institutions have in our model. Most importantly, this capital accelerates our ability to deliver more community solar projects that expand access to the benefits of clean energy.”
Cadence Bank served as depository agent and BNY Mellon acted as collateral agent; legal counsel for Nautilus was provided by Sheppard Mullin and Milbank LLP provided legal counsel for the lending parties.
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