TurningPoint & Nautilus Solar Announce Partnership on 21MW of Community Solar Projects

Source: www.gulfoilandgas.com 9/5/2024, Location: North America

TurningPoint Energy (TPE) and Nautilus Solar Energy® (Nautilus) announced their latest partnership in expanding renewable energy with 21 MW across three community solar projects in Illinois. Since 2019, the companies have collaborated on 19 large-scale and community solar projects totaling more than 129.2 MW across Illinois, Delaware, Maine, and Rhode Island. This is the second community solar portfolio the companies have partnered on in Illinois.

Scheduled for completion in 2025, the community solar projects were developed by TPE and are located in Will and Henry Counties. Nautilus is the long-term owner and will oversee construction, maintain the projects’ long-term performance, and acquire and manage customer subscriptions.

This portfolio is yet another demonstration of TPE’s commitment to invest over $500MM in the Illinois Community Solar market. All three projects will contribute to Illinois’ renewable energy goal of 40% by 2030 and 50% by 2040.

"We are pleased to partner with Nautilus to bring over 50 MW in clean, renewable energy to Illinois,” said Salar Naini, president of TurningPoint Energy. “This portfolio exemplifies both TPE’s and Nautilus’ commitment to expanding access to community solar, and to our continued commitment to support Illinois’ renewable energy goals.”

"Our ongoing partnership with TurningPoint Energy reflects our shared commitment to expanding access to clean, affordable energy across Illinois and beyond," said Eric Paul, Vice President of Partner Development at Nautilus Solar Energy. "Our growing footprint in Illinois is a testament to the strength of our collaboration and the critical role that strong relationships play in driving meaningful progress in the community solar sector. By working closely together, we’re not only bringing clean energy to more residents and businesses but also reinforcing our commitment to sustainable growth in Illinois and beyond."

The portfolio of projects will enable ComEd customers to save on their electric bills while supporting the expansion of renewable energy and Illinois’ ambitious clean energy goals. Moreover, the projects will create construction and ongoing operational jobs along with collaboration and investment into local Illinois businesses on legal, permitting, engineering, construction, and related activities to support these developments.

In addition, area residents will benefit from TPE’s longstanding commitment to charitable investment in the communities where the company develops projects. For this portfolio, TPE has designated $35,000 in planned donations to local Will and Henry County organizations, matched 100% by Nautilus for a combined $70,000 in community investment on this transaction alone.


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