Nautilus Solar Energy, through its affiliate Nautilus US Power Holdco (NUPH), has unveiled a $275m tax equity partnership with Greenprint Capital.

The investment is part of a $2.5bn tax equity joint venture between Greenprint Capital and AB CarVal’s funds.

It will support between 25 and 30 community solar projects currently under construction, which will generate more than 130MW of clean energy throughout the US states of Illinois, Maryland, New York, Rhode Island and Delaware.

Greenprint Capital managing partner Peter DeFazio stated: “This portfolio, enabled by Nautilus’s exceptional partnership and proven ability to deliver high-quality projects, underscores our confidence in the community solar market.

“We are proud to collaborate with a company that is at the forefront of expanding solar access nationwide.” 

The portfolio will provide considerable environmental and economic advantages to local communities by offering clean power to more than 11,000 homes and creating 190 jobs.

Nautilus chief financial officer Camelia Miu stated: “This landmark investment is a testament to Nautilus’s proven track record and deep expertise within the community solar space. With this portfolio, and others [...] in different stages of development, Nautilus is well-positioned to continue leading the growth of clean energy infrastructure that is resilient and built for long-term value.

“We are now able to further expand our diversified portfolio across key markets while helping accelerate the clean energy transition and ensuring broader access to affordable, renewable energy.” 

NUPH, via its proprietary community solar management platform, oversees financing, construction, maintenance, and customer subscriptions.

AB CarVal managing director Alex Flamm said: “Our expanded joint venture with Greenprint Capital aims to provide best-in-class capital solutions to respected project owners like Nautilus Solar and continue delivering private asset-based financing in the energy transition."