The Related Companies and Starwood Create Radial Power

Posted on 09/24/2022

Starwood Energy Group Global, LLC and energyRe LLC formed Radial Power, LLC. Radial Power will seek to deliver portfolio-wide distributed clean energy solutions to large real estate and C&I asset owners, while unlocking revenues from underutilized real estate, delivering cost savings, and helping to facilitate North America’s energy transition away from fossil fuels.

Radial Power is a joint venture comprising investment affiliates of energyRe and Starwood Energy, respectively, the large-scale energy affiliates of the Related Companies and Starwood Capital Group. 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 US$ 175 billion, anticipate becoming Radial Power’s foundational customers for Radial Power’s asset and regional specific solutions. energyRe’s founding investors include principals of Related Companies.

In February 2022, Invenergy Wind Offshore LLC, led by project sponsors Invenergy and energyRe, was named provisional winner for an 83,976-acre area of seabed by the U.S. Bureau of Ocean Energy Management (BOEM). The winning bid of US$ 645 million secured lease OCS-A 0542, one of the largest awarded in the New York Bight offshore wind lease sale.

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