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Starwood Launches JV To Offer Distributed Clean Energy Solutions To Large Real Estate, C&I Asset Owners
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Radial Power is a joint venture comprised of investment affiliates of energyRe and Starwood Energy, the large-scale energy affiliates of the Related Companies and of Starwood Capital Group respectively
Starwood Energy Group Global, LLC ("Starwood Energy") and energyRe LLC ("energyRe") announced the launch of Radial Power, LLC ("Radial Power"), which will deliver portfolio-wide distributed clean energy solutions to large real estate and C&I asset owners
Radial Power is a joint venture comprising investment affiliates of energyRe and Starwood Energy, respectively, the large-scale energy affiliates of the Related Companies ("Related" and Starwood Capital Group ("Starwood Capital"). Investment affiliates of energyRe and Starwood Energy will be the direct investors in Radial Power. Starwood Capital and the Related Companies, which combined have approximately 2,000 assets across all real estate asset classes in more than 45 states valued in excess of $175 billion, anticipate becoming Radial Power's foundational customers for Radial Power's asset and regional specific solutions.
Radial Power will work with Starwood Capital, Related Companies and other real estate owners to offer decarbonization solutions, including solar, EV charging, distributed storage and combined heat and power solutions.
Radial Power will assist owners of large real estate portfolios in developing programs across multiple state and utility regulatory jurisdictions to achieve their ESG, climate, and renewable energy objectives. Radial Power seeks to provide its partners and customers with both asset and portfolio-level, turn-key integrated C&I solutions, including developing, owning, and operating photovoltaic solar, battery energy storage solutions ("BESS"), and electric vehicle ("EV") charging solutions across utility service territories in the continental United States. Radial Power's goals include leveraging its codified set of proprietary tools and processes to design and deliver a fully financed deployment plan for portfolios with 1,000+ assets of various classes within 45 days from initial contact.
"Related and Starwood Capital rank among the largest owners, developers and preservationists of affordable and workforce housing in the country. Related Companies own more than 55,000 affordable residences in cities across America, and Starwood Capital's portfolio surpasses 47,000 units. Radial Power will seek to bring clean energy solutions and programming to residences within these extensive affordable housing portfolios and to enhance community health, resiliency and sustainability," the companies said
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September 21, 2022
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Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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