Radial Power, an affiliate of energyRe, and Lotus Infrastructure Partners have closed a $355 million tax equity and debt financing with Goldman Sachs to fund a nationwide distributed solar portfolio totaling roughly 214 megawatts across 106 projects.
The financing will support the development, construction, and operation of commercial and community solar projects spread across multiple U.S. markets. Commercial operation dates are expected to fall between December 2025 and 2026, according to the companies. Some projects are also expected to qualify for Inflation Reduction Act investment tax credit adders tied to domestic content and “energy community” designations.
The deal uses Goldman Sachs’ “End-to-End Distributed Generation” structure, which the parties said provides a single source of third-party capital for the portfolio. Goldman Sachs served as sole lender and tax equity investor.
Radial said the capital will help it monetize federal tax incentives more efficiently while advancing a diversified, multi-market distributed generation pipeline at scale. Marathon Capital served as financial advisor to Radial Power. Latham & Watkins served as legal counsel to Radial Power, and Vinson & Elkins served as legal counsel to Goldman Sachs.
KEY QUOTES:
“This financing reflects the depth of our platform and our ability to consistently execute across a national portfolio of distributed assets… 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.”
Matthew Trauber, Chief Financial Officer, Radial Power
“Goldman Sachs is excited to partner with Radial Power in the continued expansion of their distributed generation solar portfolio. Our investment with Radial is an example of Goldman’s ability to structure and provide innovative financing solutions for our clients and counterparties, as well as our focus on investing in U.S. energy infrastructure.”
Ryan Newman, Managing Director and Head of Energy Tax Investing, Goldman Sachs
