Nautilus Solar acquires 3.5-MW Superfund community solar project
Nautilus Solar Energy, a nationwide owner-operator of distributed and community solar projects, announced the acquisition of a 3.5-MW community solar project in Cranston, Rhode Island from ISM Solar Development, a developer of large commercial and utility-scale solar projects.
The acquired solar project resides on a closed landfill that is a former EPA Superfund site, effectively utilizing land that was otherwise unusable. This is Nautilus’s second acquisition from ISM Solar in Rhode Island, the first a 3.3-MW solar project.
“Thanks to years of cooperation between many stakeholders – the property owner, responsible parties, regulators, the City of Cranston, and ISM Solar — we are proudly able to further transform this permanently closed landfill into a source of local clean energy,” said Greg Lucini, CEO of ISM Solar.
The project is qualified under Rhode Island’s Community Remote Net Metering solar program, which allows state subscribers to purchase solar power at a discount to the standard electric service rate without installing panels on their rooftop. The solar system is expected to serve approximately 700 customer households that reside in National Grid’s territory.
Construction is targeted for completion in Q3 2020. Nautilus, as the owner-operator, will be responsible for the construction, customer acquisition, management and the long-term operations and management of this project.
“We are pleased to further extend our presence in the Rhode Island marketplace and offer the benefits provided by such a unique community solar project to a wider audience of local constituents,” said Jeffrey Cheng, president of Nautilus Solar.
Nautilus has more than 30 MW of community solar projects operational or under construction in the state. It expects to serve more than 5,000 residential customers by 2021, supporting Rhode Island Governor Raimondo’s renewable energy goal to provide 100% of the state’s electricity needs by 2030.
