Minnesota
This closing marks Foss and Nautilus Solar’s second portfolio financing and is the second tranche of projects as part of a tax equity partnership between the two parties. The portfolio consists of 16 community solar projects located across Marlyand, Maine, Minnesota and New York. The total portfolio size is approximately 62 MWdc. As noted, this is Foss’ second portfolio with Nauitlus, a leading community solar developer wholly owned by Power Energy Corporation, a subsidiary of Power Corporatoin of Canada. This portfolio is expected to be fully operational by 2024. PROJECT DETAILS LOCATION Maryland, Minnesota, Maine, New York AMENITIES 16 community solar projects totaling approximately 62 MWd.
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Foss & Company has closed the first tranche of a tax equity partnership with Nautilus Solar Energy on behalf of its affiliate, Nautilus US Power Holdco, for around $42m of investment across over 44 MWdc of community solar projects. Spread across Maine, Minnesota, and Maryland, the projects aim to offer low-cost, clean electricity to low-income families and small businesses. The projects aim to provide much needed alternative energy to the northeast region of the United States. In addition, the portfolio will bring jobs and tax revenue to these three states. The portfolio is expected to be fully operational by 2023. PROJECT DETAILS LOCATION Maine, Minnesota, and Maryland PROJECT FEATURES 44-MWdc community solar portfolio
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In partnership with Pivot Energy, Foss & Company closed a 90MW portfolio of distributed generation solar projects across multiple states in the US. The portfolio will be comprised of over 40 solar projects. In addition to commercial & industrial (C&I) power purchase agreements (PPAs), clients include community solar subscriptions for commercial clients, residents, and nearly 1,200 low-to-moderate income (LMI) households. The portfolio exhibits strategic diversity across project types, client offtake arrangements and geographic reach with projects located in New York, Illinois, Colorado, Minnesota, California and New Jersey. PROJECT DETAILS LOCATION New York, Illinois, Colorado, Minnesota, California and New Jersey PROJECT FEATURES 90 MWdc portfolio
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Minnesota has long been the national leader for community solar, having more projects and capacity than any other state in the country. Our portfolio is the Xcel Energy’s territory, and provides low cost renewable energy to local Minnesota businesses and municipalities. By subscribing to our community solar projects, these organizations are able to purchase renewable energy without installing any solar panels on their own property – typically saving 10% on their electricity costs. PROJECT DETAILS LOCATION Minnesota
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Custom House is located in St. Paul, Minnesota. Exeter Group and Nelson Development undertook an ambitious renovation of the former US Post Office and Customs House, converting the dilapidated 17-story, 735,000 square foot structure into a mixed use-project consisting of 202 luxury rental apartments, a 149 room Hyatt Place hotel, a 600-unit self-storage facility and 5,000 SF of restaurant space. The building is located in downtown area as it sits one block away from the Mississippi River offering unparalleled views. Total development costs amounted to $83.2 million. PROJECT DETAILS LOCATION St. Paul, MN AMENITIES 202 luxury apartments, 149-room Hyatt Place hotel, 600-unit self-storage facility & 5,000 SF of restaurant space.
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