DSD bags US$ 200m financial investment to sustain C&I solar pipeline
- US commercial as well as industrial (C&I) PV developer DSD Renewables (DSD) has secured a US$ 200 million liked equity investment from Ares Management Corporation to raise its growth.
The business said the funds will be made use of to increase its pipe of solar PV projects in the C&I market, as well as grow its Developer Network platform it introduced in 2021.
Greg Fabso, CFO of DSD, claimed: "This financial investment from Ares, along with ongoing assistance from BlackRock Real Assets, will enable us to scale additionally as we purposefully construct out a lot more renewable energy projects across the country, take on new companions, and grow our asset base."
DSD, which launched as a startup within General Electric in 2012 and also was gotten by BlackRock in November 2020, has greater than 1GW of solar and energy storage projects in the pipeline.
In the past year, the business elevated greater than US$ 500 million in tax obligation equity, credit and financial obligation financing from Bank of America, Rabobank as well as Credit Suisse to fund its C&I development portfolio growth.
In May 2021, DSD acquired from Alternative Energy Development Group a 2MW PV plant in California that will supply energy to an oilfield.