RAI Energy International

What RAI Energy International does

RAI Energy International is a privately held utility-scale renewable energy developer founded in 2016 by Mohammed S. Alrai and headquartered in Campbell, California (Silicon Valley). The company develops utility-scale solar PV, battery energy storage systems (BESS), and integrated solar-plus-storage projects in the Western Electricity Coordinating Council (WECC) market — across California, Arizona, Colorado, New Mexico, and Washington — with early-stage exploration of frontier technologies including green hydrogen, green ammonia, advanced geothermal, and advanced biomass. Its core technical product is integrated renewable plants with a 1:1 solar-storage configuration (e.g., the 150 MW solar / 150 MW / 600 MWh Vikings Energy Farm) designed to shift daytime solar production to evening peak demand and address the duck curve.

The business model is develop-to-sell: RAI Energy originates, permits, and advances projects to mid-to-late stage, secures long-dated 20-25 year power purchase agreements (PPAs) with offtakers such as Investor-Owned Utilities, Community Choice Aggregators (e.g., San Diego Community Power, Pioneer Community Energy), municipal utilities, and corporate buyers, and then sells completed or near-completion projects to strategic investors such as Arevon Energy. Revenue is generated via lump-sum project sales, PPA-based development economics, and Renewable Energy Credit (REC) transactions. Customers span utilities, corporations with ESG commitments, and communities, with revenue concentration at the project level.

The company has developed more than 750 MW of utility-scale and distributed generation solar and energy storage to date (including Vikings Energy Farm in Imperial County, California and the 60 MW Seville Solar Project), and is targeting a 3-4 GW portfolio by 2026-2027. RAI Energy is funded primarily through project-level debt (Leyline Renewable Capital, June 2023) with the founder/CEO retaining ownership control; KeyBanc Capital Markets has been engaged for a potential capital raise of up to $25 million.

Name

RAI Energy International

Legal name

RAI Energy International, Inc.

Website

https://raienergy.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

RAI Energy International is a Silicon Valley-based utility-scale renewable energy developer that originates solar PV, battery energy storage, and integrated solar-plus-storage projects across the Western US, secures long-term PPAs with utilities and CCAs, and sells developed projects to strategic investors.

Ownership category

akta.pro rank

Product category

Renewable Energy Project Development

NAICS

Solar Electric Power Generation (221114), Electric Power Generation, Transmission and Distribution (2211)

SIC

Electric, Gas & Sanitary Services (4900)

akta.pro primary industry

Development Management & Owner’s Engineering (Design Basis, Yield, Technical Due Diligence) (EUAMAAAG)

akta.pro secondary industries

Hybrid Renewable Systems & Co-Optimization R&D (Solar+Wind+Storage, Multi-Resource Plants, Controls) (EUAMAOAI), Renewable Energy Asset Management (Solar/Wind/Hydro/Geothermal) (EUAEAMAB)

Keywords

• Renewable energy development
• Utility-scale solar
• Energy storage development
• Green hydrogen projects
• Solar project financing

Headquarters

HQ city

Campbell

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Supply Chain, Marketing or Sales, Infrastructure

Revenue model

1. Project Development and Sale: RAI Energy develops utility-scale renewable energy projects from concept through construction-ready status, then sells completed or near-completion projects to strategic investors. Revenue is generated through the sale of developed projects (e.g., Vikings Energy Farm sold to Arevon Energy, Big River Energy sold to undisclosed strategic investor).
2. Power Purchase Agreements (PPAs): Long-term power purchase agreements with utilities, CCAs, and municipalities provide revenue certainty. PPAs typically span 20-25 years and supply renewable energy and capacity to offtakers (e.g., 20-year PPA with San Diego Community Power for Vikings Energy Farm).
3. Renewable Energy Credits (RECs): RAI Energy helps corporations meet environmental commitments through RECs to offset carbon emissions. RECs are bundled with energy or sold separately.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

RAI Energy International is a renewable energy project developer that originates, develops, permits, finances, and sells utility-scale solar PV, energy storage, integrated solar-plus-storage, and frontier clean-energy (green hydrogen) projects. It delivers these projects to utilities, community choice aggregators, corporations, and strategic investors, with a current development portfolio of approximately 1.5 GW across the United States and Jordan.

Product overview

RAI Energy International is a renewable energy development company offering a portfolio of energy solutions. The core offerings include Solar PV (utility-scale solar development), Energy Storage (battery energy storage systems), Integrated Renewables (hybrid solar-plus-storage), and Frontier Technologies (green hydrogen and emerging clean energy solutions). Projects include Vikings Energy Farm (150 MW solar + 150 MW/600 MWh storage in California), Seville Solar Project (60 MW total in Imperial County), and Jordan Solar One (20 MW in Jordan). The company maintains an advanced development pipeline exceeding 4 GW across the Western US.

Differentiator

Problem solved

Functional benefit

Products and services

• Solar PV Development End-to-end utility-scale solar PV project development service, including site origination, land control, permitting, interconnection, and financing, delivered to utilities, CCAs, and strategic investors. The offering is targeted at energy buyers seeking shovel-ready, de-risked solar generation assets to meet renewable portfolio standards and decarbonization goals.
• Energy Storage Development Stand-alone battery energy storage system (BESS) project development service covering site selection, permitting, interconnection, and project finance. The offering is aimed at utilities, CCAs, and corporate offtakers needing grid-scale storage capacity for renewable integration, capacity, and ancillary services.
• Integrated Renewables (Solar + Storage) Co-located solar PV and battery energy storage project development service that delivers hybrid assets designed to optimize dispatch, firm capacity, and renewable energy credit generation. The offering serves utilities, CCAs, and corporate offtakers looking for firm, dispatchable clean energy rather than intermittent generation alone.
• Frontier Technologies (Green Hydrogen)
• Vikings Energy Farm Utility-scale solar PV project developed by RAI Energy International, structured for divestiture to a strategic investor and PPA-backed offtake. The asset was developed from origination through financial close and sold to a strategic investor, demonstrating RAI's full project development lifecycle.
• Seville Solar Project Utility-scale solar PV project developed and brought to commercial operation by RAI Energy International, contributing generation capacity to a major U.S. utility's renewable portfolio. The project is a reference asset demonstrating the company's ability to execute large-scale solar development in the U.S. market.
• Jordan Solar One
• Big River Energy Farm Utility-scale solar PV project developed by RAI Energy International and divested to a strategic investor. The project is part of the company's active development pipeline and was sold as a shovel-ready, financeable asset.

Quantifiable outcome

• 3 GW of renewable energy delivered by 2026
• +5 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Ten partnerships are on record, tiered minor and core.

• SOLV EnergyminorStrategic or Co-development Partner · 22 November 2023SOLV Energy is performing construction on Vikings Energy Farm. Construction scheduled for completion in Q3 2024.
• Holland & KnightminorImplementation/ SI/ Consulting Partner · 27 June 2023Holland & Knight served as legal advisor to Leyline on the financing transaction, led by Lara Rios.
• OrrickminorImplementation/ SI/ Consulting Partner · 27 June 2023Orrick served as legal advisor to RAI Energy on the Leyline financing transaction, led by Thomas Glascock.
• Wellhead ElectricminorStrategic or Co-development Partner · 28 March 2023Mark Juergensen (VP of Project Development) most recently supported development for Wellhead Electric from 2013 to 2023, developing dozens of sites for energy storage, solar, hybrid generation, and green fueled generation projects.
• Apex Energy ServicescoreStrategic or Co-development Partner · 1 January 2023Apex Energy Services partnered with RAI Energy on development and eventual sale of Vikings Energy Farm. RAI was initially focused on Florida with Apex providing consulting services before the company refocused on California in 2018.
• Interwest Energy AllianceminorStrategic or Co-development Partner · 1 January 2023RAI Energy joined the Interwest Energy Alliance, a member-based advocacy organization seeking to grow market opportunities for grid-scale renewable energy projects in the Intermountain West.
• Arevon EnergycoreStrategic or Co-development Partner · 1 October 2021Arevon Energy acquired Vikings Energy Farm from RAI Energy and Apex Energy Solutions in October 2021. The project is among the first solar peaker plants in the US. Arevon closed financing using IRA tax credit transferability provisions ($191M ITC/PTC from J.P. Morgan, $338M debt facility from MUFG, BNP Paribas, SMBC, First Citizens Bank, National Bank of Canada).
• San Diego Community Power (SDCP)coreStrategic or Co-development Partner · 4 May 2021San Diego Community Power (SDCP), a not-for-profit CCA serving 960,000 customer accounts, entered into a 20-year PPA with RAI Energy for Vikings Energy Farm (150 MW solar + 150 MW/600 MWh storage). SDCP provides electricity to five cities in San Diego region. Vikings was SDCP's first PPA.
• Adenium Energy CapitalminorStrategic or Co-development Partner · 1 July 2016Adenium Energy Capital was co-developer of Jordan Solar One (20 MW) project in Mafraq, Jordan, which entered commercial operation in July 2016.
• Duke EnergycoreStrategic or Co-development Partner · 1 December 2012Duke Energy is the owner of Seville Solar Project developed by RAI Energy (Seville I 20MW with SDG&E + Seville II 30MW with IID = 60MW total). The projects delivered community benefits including technical training, mentoring, and scholarships for local students.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• Recurve Analytics: Software and analytics platform focused on distributed energy resource (DER) optimization and virtual power plants; relevant adjacency to RAI's integrated solar-storage business and future dispatch optimization needs.

Direct peers

• Arevon Energy: Acquired RAI's Vikings Energy Farm in 2021 and develops, owns, and operates utility-scale solar and storage projects. Functions both as a repeat customer/investor for RAI and as a peer developer in the same WECC market.
• Hecate Energy: Utility-scale solar and storage developer with projects across multiple US regions including the West. Operates a similar project development model targeting utility and corporate offtakers before sale to long-term owners.
• Silicon Ranch: Utility-scale solar developer and owner across the US, with significant focus on the Southeast and West. Develops projects from origination through long-term ownership, comparable to RAI's integrated renewables approach.
• Apex Energy Solutions: Co-developed the Vikings Energy Farm project alongside RAI Energy before its sale to Arevon in 2021. Apex is a utility-scale solar and storage developer operating in the same WECC geographies with a similar develop-and-flip business model.
• Intersect Power: Vertically integrated developer of utility-scale solar, storage, and data center co-location projects. Highly comparable integrated renewables model and active in California and the broader WECC footprint.
• Avantus (formerly 8minute Solar Energy): One of the largest utility-scale solar and storage developers in California, with an extensive WECC pipeline and a comparable develop-and-sell model to infrastructure investors. Directly competitive on California CCA and IOU PPAs.

Broad incumbents

• Lightsource bp: Global utility-scale solar developer and operator with significant US activity. Develops, finances, builds, and owns solar and storage projects at gigawatt scale, competing for the same WECC utility PPAs as RAI.
• EDF Renewables North America: Major utility-scale renewable energy developer and owner in the US with substantial solar and storage portfolio in California and the West. Competes directly with RAI on CCA and IOU offtake contracts.

Others

• Leyline Renewable Capital: Provided RAI's project development debt financing in 2023. As a renewable energy project finance provider, Leyline is a capital partner and ecosystem participant rather than a direct developer peer.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/raienergy
• LinkedInlinkedin.com/company/rai-energy-international-inc.

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about RAI Energy International