DSD increases USD 75m of extra tax equity from Bank of America
- DSD Renewables claimed on Tuesday that it prepared USD 75 million (EUR 69.2 m) in tax equity financing with Bank of America so it could wage the realisation of a pipeline of dispersed generation (DG) solar projects this year.
The firm means to utilize the funds for the growth and also implementation of 61 MW of projects for commercial and industrial (C&I) consumers, along with particular community solar as well as storage space installments, throughout the states of California, Connecticut, Illinois, New Jersey, New York, Massachusetts, Minnesota and also Pennsylvania, along with in Washington DC.
"This financial investment is key in making it possible for DSD to successfully release roughly a quarter of the projects in our 2023 develop plan," commented Hannah McGovern, DSD's vice head of state of project money. She kept in mind that a lot of the business's projects look for to qualify for the low-to-moderate earnings, power community, as well as domestically generated incentives under the Inflation Reduction Act (IRA).
This is the 2nd tax equity funding DSD gathers Bank of America complying with a USD-85-million offer that was secured two years ago.
