US renewables developer Radial Power, alongside private equity firm Lotus Infrastructure Partners, has secured US$355 million in tax equity and debt financing from Goldman Sachs to develop, construct and operate a 214MW distributed solar PV portfolio.
The portfolio comprises 106 commercial and community solar assets spread across multiple US markets, with commercial operation expected between December 2025 and 2026. Certain projects are anticipated to qualify for domestic content and energy community tax credit incentives under the Inflation Reduction Act (IRA).
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The financing injects long-term institutional capital, allowing Radial Power to fully leverage federal tax benefits.
“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.”
The transaction was advised by Marathon Capital, with Latham & Watkins LLP representing Radial Power and Vinson & Elkins LLP advising Goldman Sachs, which acted as sole lender and tax equity investor.
In 2023, the company raised US$80 million in tax equity from Bank of America to develop 96MW of commercial, industrial and community solar projects. The funding supported both asset- and portfolio-level installations across nine US states.
