Radial Power has announced the sale of seven community solar projects in Upstate New York with a combined capacity of 34 MW to distributed energy platform Radial Power.
The projects, once operational, are expected to generate enough clean electricity to power over 8,000 homes. The total investment for the realization of these projects is estimated to exceed USD 85 million (EUR 77.4m).
This deal marks the latest transaction for RIC Energy in New York, following the sale of 13 solar plants totaling 70 MW to various companies in recent months. Earlier in the month, RIC Energy sold 20 MW of solar projects to Brookfield's Luminace.
RIC Energy, focused on the US market, is a subsidiary of Madrid-based RIC Energy Group. The company currently boasts a portfolio of more than 600 MW of solar and energy storage capacity in Upstate New York and an overall portfolio exceeding 2,000 MW across the United States.
Radial Power, a collaboration between Starwood Energy Group Global LLC and energyRe LLC, was launched in September 2022 with the aim of providing distributed clean energy solutions to large real estate, commercial, and industrial (C&I) asset owners.
