Power Energy Corp buys Virgo-backed Nautilus Solar Energy

Power Energy Corp has acquired Nautilus Solar Energy LLC, a Summit, New Jersey-based solar developer and asset manager. No financial terms were disclosed. The sellers were Nautilus management and Virgo Investment Group, a U.S. thematic private equity firm. Virgo invested in 2015. Power Energy is an affiliate of Power Corp of Canada (TSX: POW), a Canadian management and holding company. It said it will support Nautilus' further expansion in key U.S. solar markets. Founded in 2006, Nautilus acquires, develops, executes and manages distributed and utility-scaled generation solar projects in North America. It will continue to manage a solar portfolio developed with Virgo.

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