A US renewable energy developer has partnered with an Ontario-based solar power developer to build and manage rooftop projects in Ontario. Nautilus Solar Energy LLC and Bright Power Inc., formed the Nautilus Solar Canada Limited Partnership, which hopes to develop and finance 10MW of local solar power projects this year. The company is already under contract with the Ontario Power Authority (OPA) for 2.75MW AC of rooftop projects.
Nautilus Solar Brings Green Energy Success to Ontario
Nautilus Solar is eager to enter the Ontario solar market, like many other renewable energy producers and investors, to take advantage of the financial incentives offered by the OPA’s feed-in-tariff (FIT) program. The FIT offers guaranteed pricing for green energy generated from solar, wind, and other green power sources, for the duration of the 20-year contract with the OPA. Nautilus Solar CEO, James M. Rice stated, “We are pleased to move forward with the construction and financing of our first rooftop projects in Ontario, and look forward to replicating the success we have achieved in the United States.” Rice views the partnership as an opportunity to expand the company’s current projects in Canada, create green energy jobs, and work with real-estate owners eager to benefit from the financial incentives of rooftop renewable energy profits.
Bright Power is an Experienced Global Green Energy Operator
Bright Power brings to the partnership its solid management experience operating transnational renewable energy projects for Fortune 500 companies and working with leading utility corporations from around the globe. Managing Partner of Bright Power, Andrew Knapp, stated, “We view our relationship with Nautilus Solar as an excellent opportunity to leverage Nautilus’s experience in building and managing rooftop solar projects in the United States.” Moreover, Bright Power is viewed as an expert in the FIT because of its extensive operations in Ontario, experience developing local energy projects, and its relationships with commercial property owners.
Partnership Leader in Ontario Renewable Energy
Rice believes that the timing of the partnership thrusts the two companies to the forefront of the renewable energy market, stating, “Ontario’s rooftop solar market is poised to grow rapidly in the coming years under the feed-in-tariff program.” This will expand the industry as well as positively affect the growth of green energy jobs, training opportunities, and associated economic benefits to all Ontarians.
