North Sky and NewWorld Invest in Nautilus Solar Energy's Canadian Solar Project Portfolio

Published June 12th 2014 at 3:00pm
Nautilus Solar Energy 
June 9, 2014 - 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. in cooperation with Moose Power Inc. The portfolio, located in Ontario, Canada, will initially consist of 28 projects totaling approximately 9.2MW and is expected to ultimately grow to 24MW.

"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."

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