Radial Power, a Starwood Capital Group affiliate, has successfully installed and commissioned its 3.35 MWdc Paloma Ridge solar project, which includes both rooftop solar and carport solar, in Austin, Texas.
The solar project will offset more than 3,400 metric tons of CO2 annually, the equivalent of removing 775 gasoline cars from roads every year. The project is connected to Austin Energy and participates in its "Value of Solar" and performance-based incentive programs.
"This remarkable solar initiative not only contributes to Austin Energy's efforts to harness clean energy but also aligns with our vision of a sustainable future,” said John Bates, CEO of Radial Power. “This is only the beginning for Radial Power, and we will shortly be onsite at 15 properties installing similar projects for four different portfolio clients in markets across the United States."
The project highlighting the possibility of solar power generation in the region is part of Radial Power's aim to reduce the carbon footprints of large-scale real estate portfolios. It is equipped with solar technology that not only supports environmental conservation but also improves the property's value and functionality.
"Embracing renewable energy aligns with our sustainability goals and provides the property with a lower cost of power and shaded parking, offering a more comfortable tenant environment during Texas' summers,” said Mauricio Serna, Starwood Capital Group's Head of ESG.