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Radial Power buys 7 solar projects from RIC Energy

Published by , Editorial Assistant
Energy Global,

RIC Energy, a global independent renewable energy developer and producer, announced the sale of seven photovoltaic (PV) plants in upstate New York to Radial Power, a leading distributed energy platform focused on the decarbonisation of large real estate portfolios.

The plants, with a combined capacity of 34 MW, are located throughout the upstate New York region. The facilities are expected to provide 100% clean energy to more than 8000 homes participating in their respective utilities’ community solar programs. The total investment in these projects is expected to be more than US$85 million.

In recent months, RIC Energy has sold 13 PV plants in the state of New York with a total capacity of 70 MW to various companies.

RIC Energy has become the second largest developer in the upstate area with more than 600 MW of PV and storage capacity and a total portfolio of more than 2000 MW in the US, where it began operations fourteen years ago.

“With this significant transaction, we are very pleased to be making a positive impact in the upstate communities where our projects are located,” said Jonathan Rappe, CEO of RIC Energy North America. “Together with the team at Radial Power we are proud to be delivering the winning combination of clean energy, sustainable jobs and energy bill savings to the region.”

“This strategic expansion aligns with our commitment to geographical diversity and technological innovation, solidifying our position as a premier independent power producer (IPP) in the US market,” commented José Luis Moya, the Global CEO of RIC Energy.



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