Solar developer gains $25mn financing

Nautilus Solar Energy executed a financing agreement with De Lage Landen to fund a minimum of $25 million of Nautilus’ installations across the U.S. throughout 2012.

The De Lage Landen financing facility will be used to fund several megawatts of photovoltaic generation in Florida, California and the Northeast. Under the Sale-Leaseback structure, Nautilus will develop, construct, finance and operate the photovoltaic facilities at host locations. The power will be sold either to commercial and industrial host customers or to utilities under long-term power purchase agreements.

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