Radial Power has positioned itself as a key player in New York’s energy transition by acquiring these community solar projects from Galehead Development.
These installations, totalling 22.3 MW, are part of the VDER program, designed to enhance the value of distributed energy resources.
This transaction demonstrates both companies’ commitment to New York State’s clean energy goals.
Galehead worked with local communities and National Grid to secure the necessary approvals and ensure sustainable economic benefits for consumers, communities and local utilities.
Radial Power will now oversee the final development and construction of these projects, consolidating its role in the renewable energy sector.
Strategic collaboration for clean energy
Galehead continues to manage land assets for 14 MW of the portfolio via Century LandCo.
A framework agreement between Galehead and Radial Power also provides for the closing of an additional 18.3 MW of VDER community solar capacity before the end of the year.
Matt Marino, CEO of Galehead, says: “This transaction reflects our shared commitment to providing real estate financing and development solutions to achieve ambitious renewable energy goals. We are delighted to be working with Radial Power on the successful commercialization of this portfolio.” John Bates, CEO of Radial Power, added: “Radial Power is proud to contribute to New York’s energy transition with this portfolio of reliable, emissions-free solar projects. This collaboration with Galehead represents our commitment to providing clean energy solutions to our customers, supporting renewable targets and helping to decarbonize our environment.”
Galehead Development: a pioneer in renewable development
Galehead Development stands out as a leading upstream development platform, specializing in the planning, management and delivery of renewable resources and low-carbon infrastructure.
Using its proprietary LandCommand® software, Galehead effectively reduces project development risks, costs and timescales.
Since 2016, Galehead has developed and monetized 7 GW of solar, wind and storage projects, and continues to develop new green projects with its network of partners in the United States. This acquisition by Radial Power strengthens its position in the renewable energy market and makes a significant contribution to achieving New York’s energy goals.
