Nautilus Solar Energy, a U.S.-based community solar company, has renewed its construction debt facility with a total commitment of $600 million.

National Bank of Canada Capital Markets, Royal Bank of Canada, and Export Development Canada served as co-lead arrangers for the facility. National Bank of Canada also acted as sole bookrunner, administrative agent, issuing bank, and collateral agent.

Fédération des Caisses Desjardins du Québec, Siemens Financial Services, The Huntington National Bank, and Sumitomo Mitsui Banking Corporation also participated as lenders in the facility.

Greenberg Traurig provided legal counsel for Nautilus. Norton Rose Fulbright US provided legal counsel for the lenders.

The renewed facility will support the construction of approximately 200 MW of community solar projects across the company’s portfolio, where the company did not disclose the specific project locations, construction timelines, or expected commissioning dates.

“This facility reflects the deep relationships and trust that we’ve earned with the institutional lending community,” said Camelia Miu, Chief Financial Officer of Nautilus. “The size of commitment and the caliber of the partners that have committed to this facility are also a testament to our track record of execution and the strength of our portfolio. Importantly, in a time of rising electricity costs, this capital accelerates our ability to deliver affordable energy to a wider breadth of customers living in the communities that we serve.”

According to Mercom’s recently released Q1 2026 Solar Funding and M&A report, announced large-scale solar project funding increased by 61% in Q1 2026 compared with the same period in 2025.

In May, Bankinter Investment and Plenium Partners secured €530 million (~$617 million) in financing for a 130 MW solar portfolio owned by Helia Renovables IV. Helia Renovables IV was launched in 2020 by Bankinter Investment, an alternative investment arm of the Spanish financial group Bankinter, and Plenium Partners, an investment company focused on power and sustainable infrastructure in Europe, with €290 million (~$337.4 million) in committed capital from investors for renewable energy investments.