Nautilus Solar Energy, a U.S.-based community solar provider, announced the acquisition of community solar projects totaling about 11 MWdc in Illinois from Renewable Properties, a utility-scale solar and energy storage project developer.
Renewable Properties developed the solar projects for the Illinois Shines program, which are comprised of the 7 MW Highway 20 solar project in Kane County and the 4 MW Deep Lake project in the Village of Antioch.
The Highway 20 solar project is in the advanced stages of construction and is expected to reach commercial operation by the second quarter of 2025. The Deep Lake project will serve consumers subscribed to the Illinois Shines program by the end of 2026.
Once operational, the two projects are expected to produce approximately 17,300 MWh of clean electricity annually, according to the company.
“This acquisition aligns with our mission to harness the power of the sun to create clean and reliable energy sources for a brighter future,” said Eric Paul, Vice President of Partner Development for Nautilus Solar Energy. “By working with a seasoned development company like Renewable Properties to expand our community solar footprint in Illinois, we are empowering more residents and businesses to lower their electricity costs without the burden of costly up-front investments, ensuring that solar energy is both affordable and accessible.”
In January 2024, the company announced the acquisition of a 75.6 MW community solar portfolio comprising 16 projects across Illinois. These projects are expected to be operational between 2025 and 2027.
According to Mercom’s Annual and Q4 2024 Solar Funding and M&A report, 217 large-scale solar project acquisitions totaling 37.7 GW were transacted in 2024, compared to 231 transactions totaling 45.4 GW in 2023.
Last month, ContourGlobal, an independent power producer and a KKR company announced the acquisition of a solar project portfolio totaling 446 MWp from Qcells, a solar cell manufacturer and project developer.
