Nautilus acquires, develops, finances, owns and manages solar assets across the US and has invested more than $1 billion in capital since 2006. Source: Nautilus Power Energy Corporation, a subsidiary of Power Corporation of Canada, has bought developer and asset manager Nautilus Solar Energy from management shareholders and minority shareholder Virgo Investment Group for an undisclosed sum. New-Jersey based Nautilus acquires, develops, finances, owns and manages solar assets across the US and has invested more than US$1 billion in capital since launching in 2006. California private equity investment firm Virgo Investment Group acquired a minority stake in the company in 2015. Nautilus will retain its current management team. Jim Rice and Laura Stern will remain co-CEOs and Jeffrey Cheng president. Rice said in a release that "PEC's acquisition will not only provide Nautilus with competitive capital, but also the capabilities to accelerate growth to achieve greater scale in the market". In mid-June, Nautilus completed the first of three community solar projects in New York state. Tags: nautilus, canada, usa, ssfusa, virgo investment group, power corporation of canada, power energy corporation, us
Power Energy Corporation subsidiary Power Energy Corporation ( PEC ) has acquired Nautilus Solar Energy for an undisclosed sum. The purchase came weeks after Nautilus completed the first of Tags community solar schemes in New York state. The firm will retain its existing management team, while Power Corporation of Canada's will use the purchase to speed up its growth.