Radial Power and Goldman Sachs Finalize $355 Million Financing to Advance 214 MW Distributed Solar Portfolio Across the United States
Radial Power, an affiliate of energyRe and a recognized leader in delivering reliable, affordable, and sustainable energy solutions, together with Lotus Infrastructure Partners, has announced the successful closing of a landmark $355 million tax equity and debt financing with Goldman Sachs. The financing will support the development, construction, and long-term operation of approximately 214 megawatts (MW) of distributed solar capacity across 106 individual projects located in multiple U.S. markets.
The transaction represents a major milestone for Radial Power as it continues to scale its national distributed generation platform. The financing leverages Goldman Sachs’ innovative “End-to-End Distributed Generation” structure, which provides a streamlined, single-source solution for third-party capital. By combining tax equity and debt financing into a unified structure, the approach simplifies execution, enhances capital efficiency, and accelerates deployment timelines for large, diversified portfolios of distributed energy assets.
Supporting a Nationwide Distributed Solar Portfolio
The portfolio supported by the financing is comprised of a mix of commercial and community solar projects spread across several regions of the United States. These projects are designed to deliver clean, locally generated electricity to businesses, municipalities, and residential subscribers, helping to reduce energy costs while strengthening grid resilience. Commercial operation dates for the projects are expected to fall between December 2025 and 2026, aligning with Radial Power’s near- to mid-term development pipeline.
Several projects within the portfolio are expected to qualify for additional investment tax credit (ITC) adders under the Inflation Reduction Act (IRA). These include domestic content incentives, which reward the use of U.S.-manufactured components, as well as energy community adders, which support investment in regions historically tied to fossil fuel production or impacted by energy transition. By structuring the portfolio to capture these incentives, Radial Power is maximizing the value of federal policy support while reinforcing domestic manufacturing and economic development objectives.
Efficient Monetization of Federal Incentives
A core benefit of the transaction is its ability to efficiently monetize federal tax incentives at scale. Distributed solar portfolios often involve complex financing arrangements due to their size, geographic diversity, and varying regulatory environments. The structure provided by Goldman Sachs delivers long-term institutional capital that enables Radial Power to convert tax credits into deployable capital efficiently, reducing friction and enabling disciplined capital allocation across a growing national footprint.
For Radial Power, this approach supports the continued expansion of a diversified, multi-market portfolio while maintaining financial discipline and predictable returns. The transaction also reflects the increasing maturity of the distributed generation sector, where large-scale institutional investors are playing a growing role in funding portfolios that were once considered too fragmented or complex.
Leadership Perspectives
“This financing reflects the depth of our platform and our ability to consistently execute across a national portfolio of distributed assets,” said Matthew Trauber, Chief Financial Officer of Radial Power. “We are excited to partner with Goldman Sachs on this transformative financing, which enables disciplined capital deployment and efficient tax credit monetization while supporting continued growth across our pipeline.”
Trauber emphasized that access to flexible, large-scale capital is essential as Radial Power continues to expand its footprint across multiple states and market segments. By aligning with a global financial institution capable of structuring complex transactions, Radial Power is well-positioned to accelerate project delivery while maintaining long-term value creation.
Goldman Sachs echoed this sentiment, highlighting the strategic importance of the partnership and the broader role of innovative financing in advancing U.S. energy infrastructure.
“Goldman Sachs is excited to partner with Radial Power in the continued expansion of their distributed generation solar portfolio,” said Ryan Newman, Managing Director and Head of Energy Tax Investing at Goldman Sachs. “Our investment with Radial is an example of Goldman’s ability to structure and provide innovative financing solutions for our clients and counterparties, as well as our focus on investing in U.S. energy infrastructure.”
Strategic Role of Lotus Infrastructure Partners
Lotus Infrastructure Partners, a leading private equity firm focused on energy infrastructure investments, plays a key role in supporting Radial Power’s growth strategy. Through its partnership, Lotus provides strategic capital and long-term investment expertise, enabling Radial Power to pursue large, diversified portfolios while maintaining operational excellence and risk management. The closing of this financing underscores the strength of the Radial–Lotus platform and its ability to attract high-quality institutional partners.
Advisors and Transaction Structure
Marathon Capital served as financial advisor to Radial Power on the transaction, providing strategic guidance throughout the structuring and execution process. Legal counsel to Radial Power was provided by Latham & Watkins LLP, while Vinson & Elkins LLP served as legal counsel to Goldman Sachs. Goldman Sachs acted as both the sole lender and tax equity investor, further demonstrating its confidence in Radial Power’s platform and the long-term fundamentals of distributed solar generation.
The integrated nature of the financing reflects a broader trend in the market toward simplified capital solutions that can support large portfolios without the need for multiple counterparties. For developers and asset owners, this approach reduces complexity, shortens timelines, and improves overall project economics.
Advancing the Energy Transition
The $355 million financing comes at a time when distributed solar is playing an increasingly important role in the U.S. energy transition. As electricity demand grows and grid constraints become more pronounced, distributed generation offers a flexible, scalable solution that can be deployed close to load centers. Community and commercial solar projects also expand access to clean energy for customers who may not be able to install rooftop systems, supporting broader participation in the transition to renewable energy.
By advancing more than 200 MW of distributed solar capacity, Radial Power’s portfolio will contribute to emissions reductions, local economic development, and energy affordability across multiple states. The inclusion of projects eligible for domestic content and energy community incentives further aligns the portfolio with national policy goals focused on job creation, supply chain resilience, and equitable investment.
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