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DSD Secures $150M in Revolver Financing from Rabobank to Support Solar Energy Projects Through 2022
SCHENECTADY, N.Y. — March 3, 2021 — Distributed Solar Development (DSD) announced today it has secured a two-year, $150 million construction revolver with Rabobank, a global food and agribusiness bank and leader in sustainability-oriented banking, to finance its expanding pipeline of distributed generation solar energy projects in the commercial and industrial (C&I) market.
“[Our access to capital], expertise and experience enable a true one-stop solution for origination, development, financing and management.”
The flexible structure of the Rabobank construction revolver aligns strongly with the $300M debt facility that DSD closed with Credit Suisse in late January.
“This construction revolver provides a flexible back leverage solution that will enable us to continue scaling as we work to become an industry hub for the C&I market,” says Greg Fabso, CFO at DSD. “Our expertise and experience enable a true one-stop solution for origination, development, financing and management.”
The revolver incorporates multiple tax equity partnerships and will deliver capital throughout DSD’s business cycle, including an equipment supply sub-limit.
“Rabobank was delighted to arrange and structure this facility for the DSD team,” says Claus Hertel, Managing Director, Project Finance at Rabobank. “Distributed generation in the C&I space is becoming increasingly relevant and we are thrilled to support a leading developer with strong U.S. growth ambitions.”
“This construction revolver provides a flexible back leverage solution that will enable us to continue scaling as we work to become an industry hub for the C&I market.”
About DSD Renewables
DSD Renewables (DSD) is a renewable energy solutions platform enabling a more sustainable future by deploying and operating renewable energy solutions, making solar, storage, and EV charging infrastructure more accessible to commercial, industrial, and municipal partners. With in-house expertise, a broad scope of capabilities, and the proprietary DSD Connect Platform, our team provides resources to industry partners and customers across the US, accelerating the deployment and scale of renewable energy to meet aggressive sustainability and net-zero goals. To learn more, visit DSDRenewables.com and connect with us on LinkedIn, Instagram, and Facebook.
About Rabobank Group
Rabobank Group is a global financial services leader providing wholesale and retail banking, leasing, and real estate services in 38 countries worldwide. Founded over a century ago, Rabobank today is one of the world’s largest banks with over $765 billion in assets. In the Americas, Rabobank is a premier bank to the food and agriculture industry, as well as a leading project financier of solar, wind, bioenergy, and energy infrastructure projects, providing in-depth knowledge and expertise as well as full arranging, underwriting and syndication capabilities. Rabobank has financed more than 6GW of renewable energy projects to date and is dedicated to supporting the financing of the energy transition and new clean technologies. Additional information is available on our website or on our social media platforms, including Twitter and LinkedIn.
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