Starwood Energy Invests In Solar Power Firm

Jan 13 2009 | 11:49am ET

Private equity firm Starwood Energy Group has acquired a majority interest in Nautilus Solar Energy, a solar power generation developer headquartered in Chatham, New Jersey.

Starwood Energy's investment will provide working capital and facilitate an expansion of Nautilus Solar's corporate infrastructure. The funding also includes a $50 million commitment for future Nautilus Solar projects.

Nautilus Solar develops, constructs, finances, owns and operates distributed generation and utility-scale solar electric systems. Created in 2006 by energy professionals Jim Rice, Laura Stern and Alan Dash, Nautilus Solar currently has seven completed solar retail projects in operation and four solar projects under construction in New Jersey and Connecticut. As one of the fastest growing solar development companies in the United States, Nautilus Solar has a project pipeline of over 500 MWs of solar generating capacity over the next two years.

"We are excited to complete this majority investment in Nautilus Solar," said Brad Nordholm, CEO of Starwood Energy in Greenwich, Connecticut. "Jim Rice, Alan Dash, and Laura Stern have, in a very short period of time, demonstrated significant leadership in building Nautilus into the company it is today, with a number of solar projects already completed and several more in advanced stages of development.”

Starwood Energy is an affiliate of Starwood Capital Group Global, a multi-billion dollar private equity investment firm located in Greenwich, Conn. Since 2005, Starwood Energy has committed to energy infrastructure transactions totaling $3.2 billion of enterprise value, including the Neptune Regional Transmission System, a 660 MW undersea power cable connecting Long Island to New Jersey, CalPeak Power, LLC, a 260 MW portfolio of five natural gas-fired peaking power plants in California, and the 272 MW Thermo Ft. Lupton combined-cycle plant in Colorado. Starwood Energy also anticipates completion in May 2009 of its 120 MW Starwood-Midway power plant now under construction in California.

In Depth

Related-Company Fees: Normal Industry Practice or Conflicted Compensation?

Nov 11 2015 | 4:23pm ET

Regulatory agencies as well as investors are increasingly exploring whether certain...


Ferrari Roars in Wall Street Debut

Oct 21 2015 | 4:28pm ET

Shares of supercar maker Ferrari jumped as much as 15 percent to a high of nearly...

Guest Contributor

Private Debt - What is the Opportunity?

Nov 11 2015 | 3:28pm ET

In this contributed article, Rob Allard, founding partner of Firebreak Capital...


Editor's Note

    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…