DSD Closes $300M Debt Facility with Credit Suisse To Support Solar Innovation Over Next 24 Months [Press Release]
SCHENECTADY, N.Y. — January 26, 2021 — Distributed Solar Development (DSD) announced today the closing of a $300M debt facility financed by Credit Suisse, the first of multiple financing deals DSD expects to close on this winter. The financing is aligned with DSD’s 2021-2022 clean energy projects under development and flexible enough to support its anticipated scale of growth.
“This facility provides a flexible back leverage solution that allows DSD to focus on originating and developing assets, rather than ongoing financing,”
“Our team’s ability to map out projects is among the best in the industry,” said Erik Schiemann, CEO at DSD. “The fact that our pipeline is developed to the point where we can sustain two-year availability with a leading global financial institution is a clear indication of how renewable energy is driving business as well as environmental responsibility.”
The Credit Suisse debt facility will be used to finance a broad range of commercial solar, industrial renewable energy projects and distributed generation assets, and will accommodate multiple tax equity partnerships and structures.
“This facility provides a flexible back leverage solution that allows DSD to focus on originating and developing assets, rather than ongoing financing,” said Jamie Hutson, Director of Structured Finance at DSD. “It provides the kind of flexibility an innovative developer requires and helps fulfill our vision for making distributed solar energy more widely available. We look forward to building this relationship.”
About Distributed Solar Development
Distributed Solar Development (DSD) is transforming the way organizations harness clean energy. With unparalleled capabilities including development, structured financing, project acquisition and long-term asset ownership, DSD creates significant value for our commercial, industrial and municipal customers and partners. Backed by world-leading financial partners like BlackRock Real Assets and rooted in our founding at GE with a 120+ year legacy of innovation, our solar energy team brings a distinct combination of ingenuity, rigor, and accountability to every project we manage, acquire, own and maintain. To learn more about our industry-leading solar energy solutions, visit dsdrenewables.com and be sure to connect with us on LinkedIn and Twitter.
How to maximize the federal solar Income Tax Credit (ITC) before it “steps down,” to get the lowest price for solar.
As #NASEW20 kicks off, renewable energy professionals should prepare for a packed schedule of virtual meetings that will take place this fall!
New Jersey’s popular SREC program will end soon — but a new, temporary replacement program offers big incentives for companies in the state to “go solar.”
The U.S. solar sector lost more than 65,000 jobs since the COVID-19 crisis hit. But due to a confluence of factors, the industry is on-track to grow by 6% YoY.