Nautilus Solar Energy Canada Inc, the Canadian subsidiary of U.S.-based Nautilus Solar Energy LLC, has received an undisclosed investment in its solar electricity generation project portfolio. The investment was made by funds managed by U.S. energy and infrastructure investor GoldenSet Capital Partners and private equity firm North Sky Capital. The portfolio, located in Ontario, will consist initially of 28 projects totaling approximately 9.2 megawatts and is expected to grow to 24 megawatts. Nautilus said the deal provides the foundation for completing its current portfolio and the opportunity for expansion through acquisition of projects.
North Sky CleanTech Alliance Fund, L.P. and NewWorld Environmental Infrastructure, L.P. Invest in Nautilus Solar Energy’s Canadian Solar Project Portfolio
STAMFORD, Conn., June 9, 2014 /CNW/ – North Sky CleanTech Alliance Fund, L.P. (“North Sky”) and NewWorld Environmental Infrastructure, L.P. (“NewWorld Infrastructure”) have announced an investment in a solar electricity generation project portfolio developed by Nautilus Solar Energy, LLC (“Nautilus”) through its Canadian subsidiary, Nautilus Solar Energy Canada, Inc. The portfolio, located in Ontario, Canada, will initially consist of 28 projects totaling approximately 9.2 megawatts and is expected to ultimately grow to 24 megawatts.
Nautilus is a leading solar power generation developer headquartered in Summit, NJ. Nautilus develops, constructs, finances, owns and operates distributed generation and utility-scale solar electric systems throughout the United States and Canada, focusing primarily on the mid-Atlantic, northeast and western regions of the U.S. and Ontario, Canada.
“Our partnership with NewWorld Infrastructure and North Sky provides the foundation not only for the successful completion of Nautilus’s current portfolio, but also the opportunity for significant expansion through acquisition of projects in the Ontario Power Authority’s feed-in-tariff program,” Nautilus’s President, Laura E. Stern stated. “We could not be more enthusiastic to help accelerate the development and growth of the Ontario solar sector.”
Everett Smith, Managing Partner of GoldenSet Capital Partners, said, “We are pleased to partner with Nautilus Solar Energy, a proven solar developer, and to support the objectives of the Province of Ontario in expanding its base of clean energy. Through this investment NewWorld Infrastructure and GoldenSet Capital Partners have again achieved their objective of creating jobs in the near-term, environmental benefits for the longer term, and an attractive investment opportunity for the North Sky and NewWorld Infrastructure investors.” Added Ali Iz, Managing Partner at NewWorld Capital Group, “This investment is right down the alley for NewWorld Infrastructure as a provider of capital for clean renewable energy projects and companies.”
Danny Zouber, Managing Director of North Sky, said, “We are delighted to add to our renewable energy investment portfolio in North America and to work with Nautilus Solar on an opportunity that will create jobs in Ontario, as well as strong potential returns for our investors.”
About Nautilus Solar Energy, LLC
Founded in 2006, Nautilus Solar (www.nautilussolar.com) is a leading North American independent solar power producer headquartered in Summit, NJ. Nautilus Solar develops, constructs, finances, owns and operates distributed generation solar electric systems. The company sells its generated power through long-term power purchase agreements, with approximately 96 megawatts owned and managed throughout the United States and Canada. Nautilus Solar is majority-owned by an investment affiliate of Starwood Energy Group Global, LLC, based in Greenwich, CT.
About NewWorld Environmental Infrastructure, L.P.
Founded in 2012, NewWorld Environmental Infrastructure, L.P. was established in collaboration with North Sky Capital to provide funding for clean infrastructure assets and companies. It is managed by GoldenSet Capital Partners (www.goldensetcapital.com), formerly NewWorld Infrastructure Group, and provides project equity for clean infrastructure assets and structured capital to companies engaged in deploying clean infrastructure. The General Partner of NewWorld Infrastructure is comprised of principals from NewWorld Capital Group and GoldenSet Capital Partners. NewWorld Capital Group (www.newworldcapital.net) is a New York based private equity firm that specializes in selected segments of the environmental business sector in the United States and Canada.
About North Sky Capital LLC
North Sky Capital is an independent registered investment advisor that was established in 2000 to provide tailored private investment solutions for its investors. To date, North Sky’s tight-knit team has built 14 innovative funds spanning the full spectrum of private equity and energy infrastructure. North Sky Capital manages over $850 million in committed capital and is headquartered in Minneapolis, Minnesota. For more information, please visit: www.northskycapital.com
SOURCE GoldenSet Capital Partners
For further information:
Nautilus Solar Energy, LLC, David Munsky, 396 Springfield Avenue, Summit, NJ 07901, (908) 795-3038, email@example.com, GoldenSet Capital Partners, LLC,, Everett Smith III, 60 Long Ridge Road, Stamford, CT 06905, (203) 912-7137, firstname.lastname@example.org, North Sky Capital, LLC, Rachael Welk, 33 South Sixth Street, Minneapolis, MN 55402, (612) 435-7150, email@example.com, NewWorld Capital Group, LLC, Ali Iz, 527 Madison Avenue, New York, NY 10022, (212) 486-3400, firstname.lastname@example.org
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