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 Corporation of Canada 's subsidiary Power Energy Corporation ( Canada ) has acquired First Solar Energy for an undisclosed amount . The purchase came weeks after Nautilus completed the first of three community solar schemes in New York state . The company will retain its existing management team , while PEC will use the purchase to speed up its growth .