NEW YORK, Oct. 31, 2023 /PRNewswire/ — Radial Power today announced its strategic expansion into the electric vehicle (EV) charging market. Radial Power will develop, own, and operate EV charging stations on portfolio properties in addition to its existing generation assets, including solar systems and battery energy storage systems. With the growing demand for electric vehicles and the need for EV charging infrastructure, Radial Power’s expansion into the EV charging market is a natural progression of its offerings and reinforces Radial Power’s position as a trusted partner for large real estate portfolio owners seeking to incorporate renewable energy and sustainable solutions into their properties.
Radial Power offers custom, turn-key distributed generation solutions to large-scale real estate owners seeking to decarbonize their portfolios. By owning, operating, and managing EV charging stations for clients, Radial Power ensures seamless operations for clients. Radial Power will also offer profit-sharing agreements with participating property owners.
“We are proud to announce the launch of Radial Power’s EV charging station ownership program,” said John Bates, Chief Executive Officer of Radial Power. “As the world moves towards sustainable transportation solutions, EV charging infrastructure is becoming increasingly crucial. With our expertise in distributed generation and our commitment to sustainability, we are well-positioned to meet our clients’ EV charging needs while advancing a greener and more sustainable future.”
Radial Power’s national expansion into the EV charging market will include more than 10,000 chargers over the next several years across multi-family, office, hospitality, and industrial properties. Radial Power’s entry into the EV charging market is further strengthened through its strategic partnership with Loop, a prominent charging station manufacturer and network provider. Loop’s expertise and innovative technology solutions ensure that Radial Power’s EV charging stations are seamlessly integrated into the broader electric vehicle charging ecosystem.
“The addition of EV charging infrastructure is a pivotal step in enhancing the appeal of multi-family properties to current and prospective tenants,” said Brian Soss, a Senior Vice President with Starwood Capital’s Multi-Family Asset Class. “This initiative not only aligns with evolving tenant preferences but also supports sustainable living. Radial Power’s ability to execute this program across multiple markets underscores their commitment to providing comprehensive solutions that cater to both environmental concerns and tenant needs.”
In addition to EV charging stations, Radial Power will continue to provide various financing options for its clients, including in respect of solar systems, battery energy storage systems, and other distributed generation assets.
About Radial Power:
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 is jointly owned by investment affiliates of energyRe and Lotus Infrastructure Partners and has offices in Houston and New York. For more information, visit www.radialpower.com
SOURCE Radial Power
