RIC Energy Sells Seven New York State Community Solar Projects to Radial Power

RIC Energy, a global independent renewable energy developer and producer, announced the sale of seven photovoltaic plants in upstate New York to Radial Power, a leading distributed energy platform focused on the decarbonization 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 percent clean energy to more than 8,000 homes participating in their respective utilities' community solar programs. The total investment in these projects is expected to be more than $85 million dollars.

In recent months, RIC Energy has sold 13 photovoltaic 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 photovoltaic and storage capacity and a total portfolio of more than 2,000 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."

José Luis Moya, the Global CEO of RIC Energy, highlighted the company's diverse national photovoltaic and energy storage initiatives at both community and utility scales in states such as New York, Maryland, Texas and California. "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 U.S. market," he said.

The RIC Energy group has a global presence in a dozen nations on four continents and maintains a developing portfolio of 20,000 MW in photovoltaic, green hydrogen, storage and biogas projects.

About RIC Energy

RIC Energy is a pioneering group in the development of photovoltaic energy with a presence on four continents and a developing portfolio of over 20,000 MW of projects in solar, green hydrogen and its derivatives, energy storage, biogas, and wind energy. RIC Energy is a prominent project developer focused on providing renewable energy and storage facilities throughout the United States at the community and utility levels. Visit http://ric.energy for more information.

About Radial

Radial Power is a privately-owned, developer-owner-operator of distributed clean energy assets across large real estate portfolios. Founded in 2022, Radial Power assists owners of large real estate portfolios develop programs across multiple U.S. state and utility regulatory jurisdictions to achieve their ESG, climate, and renewable energy objectives. Radial Power provides its partners and customers with both asset and portfolio-level turn-key integrated commercial & industrial solutions, including developing, owning, and operating photovoltaic solar, BESS, and EV charging solutions. Radial Power has offices in Houston and New York. For more information, visit www.radialpower.com