November 11 (Renewables Now) - New Jersey-based Nautilus Solar Energy LLC has acquired a 17.2-MW portfolio of community solar photovoltaic (PV) projects from developer Borrego Solar Systems.
The specific portfolio consists of three PV schemes in New York state’s Monroe and Saratoga counties, Nautilus Solar said on Thursday without disclosing the value of the purchase. The company, which is part of the Power Corporation of Canada (TSX: POW), will oversee the project management as the assets’ long-term owner and operator, while Borrego Solar will take care of their design, engineering, construction and maintenance.
The construction of the three PV parks is expected to be finalised in the third quarter of next year, with the power plants’ generation seen to be enough for about 1,500 homes per year.
The projects are qualified under New York’s community solar programme and are supported by the Megawatt Block and NY-SUN incentive schemes of the New York Research and Development Authority (NYSERDA).