In a combination of Maryland’s two previous major solar developments, Nautilus Solar Energy announced today the acquisition of a 6.6 MW community solar portfolio from Summit Ridge Energy and Synergen Solar.
The portfolio is comprised of four individual solar projects all co-located on the same landfill in Prince George’s county. While the projects have not yet been completed, they are expected to be finished in late 2018 and brought online early next year. Nautilus claims that the newly-acquired projects are “believed to be one of the largest all residential community solar projects developed to date.”
“We are excited about expanding into Maryland’s community solar marketplace, which furthers our goal of becoming a leading community solar project owner with expertise in the most active community solar markets across the U.S.,” said Nautilus Solar Chief Operating Officer Jeffrey Cheng.
This acquisition also comes off the heels of last week’s announcement by Building Energy that the company completed Maryland’s largest landfill solar project in Annapolis, proving that Maryland does more than just crab cakes and football.
While Nautilus purchased and will be responsible for the project management, long-term asset management and maintenance of the four systems included in the portfolio, the portfolio will be owned by an affiliate of Virgo Investment Group, a minority shareholder of Nautilus.