ReneSola sheds 10.4 MW of community solar in Minnesota
Solar farm. Author: Nautilus Solar Energy. License: All Rights Reserved
Solar project developer ReneSola (NYSE:SOL) on Wednesday said it has offloaded 10.4 MW of community solar projects in Minnesota to Nautilus Solar Energy, LLC.
The portfolio consists of eight solar gardens, which will together generate enough power to supply over 1,450 homes. The projects are expected to start operation by the end of the year.
The solar arrays will operate under Xcel Energy's Solar*Rewards Community Program and Minnesota's VOS community solar programme, supporting the state's 10% solar energy target by 2030.
Nautilus's responsibilities will include project management, long-term asset and subscriber management and maintenance services for the projects. ReneSola, which developed the projects, will secure the subscribers.
This is the fourth transaction between ReneSola and Nautilus in the last three years.