Nautilus Solar Energy closes $600M debt facility

Nautilus Solar Energy, a leading provider of community solar solutions, has announced the closing of a $600 million debt facility, marking a significant milestone in its growth strategy. The financing will support the development and expansion of more than 25 community solar projects across Illinois, Maryland, Delaware, New York, and Rhode Island, adding over 130 megawatts (MW) of clean energy capacity to local grids. This brings Nautilus’s total operating and managed portfolio to 700 MW, which is expected to deliver clean, affordable energy to over 11,000 households and small businesses.

The debt facility includes participation from three new financial partners—MUFG, SMBC, and Apterra Infrastructure Capital—expanding Nautilus’s lender base and reflecting strong market confidence in the company’s business model and the long-term value of community solar. This is the largest single debt transaction in the company’s history and secured financing from new partners simultaneously.

The financing was structured with Cadence Bank serving as depository agent and BNY Mellon acting as collateral agent. Legal counsel for Nautilus was provided by Sheppard Mullin, while Milbank LLP represented the lending parties.

This transaction underscores the growing institutional interest in community solar as a reliable and scalable renewable energy investment. The $600 million facility will accelerate Nautilus’s ability to expand access to clean energy while supporting local economic development and the transition to a more sustainable energy future.