Two energy industry professionals teamed up in 2007 to form Nautilus, an independent solar power producer.
“You could just kind of see the industry starting to form in the Northeast around that time,” said Nautilus spokesman Brian Quinlan.
The company’s founders could see where they would be able to own and operate solar installations and sell the power, starting their own company.
In 2008, they aligned with Starwood Energy Group Global, which invested equity in Nautilus and gave the company the kick-start it needed to begin investing, Qunilan said.
Nautilus Solar, based in Summit, N.J., now owns 16 megawatts of solar in New Jersey, Connecticut, Maryland , California and Florida.
“And we have another five to seven projects in the late stages of planning or early stages of construction,” he said. The Chino installation, is the company’s second project in California. The first was an 880-kilowatt rooftop system.
Nautilus typically does install rooftop systems because they’re generally easier to permit, Quinlan said. The company is actively looking for good rooftop space in in the states where it already has a presence because those states offer strong solar incentives that make the market appealing. “We’re also looking to open up markets in Massachusetts and New York,” Quinlan said.
Nautilus also sees more opportunity for growth. The LA Department of Water and Power is going to be offering a feed-in-tariff, which makes Los Angeles particularly attractive. Quinlan said the company is looking roof space there right now.
In addition to the 16 megawatts Nautilus owns, it manages another 69 megawatts of solar in Canada for partner Starwood.
The growth opportunity is good for the company and there are plenty of opportunities to expand and continue growing, Quinlan said.