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DSD Acquires 11.3 MW Community Solar Portfolio in Minnesota
SCHENECTADY, N.Y. – June 28, 2022 – DSD Renewables (DSD) has acquired a seven-project, 11.3 MW community solar portfolio, spanning six cities in Minnesota. The acquisition marks DSD’s first venture in Minnesota, expanding its footprint of assets to 22 states across the nation.
Six of the sites will have 100% residential offtake and are expected to serve more than 600 residents, while the seventh project will have 100% commercial offtake. All seven projects are expected to generate 17,073 MWh of clean energy each year, avoiding 12,100 metric tons of carbon dioxide emissions annually.
By using solar instead of fossil fuels, 12,100 metric tons of carbon dioxide emissions will be avoided each year — the equivalent of 1.36M gallons of gasoline unused.
“We are thrilled to be entering a new market with such a strong portfolio of community solar projects that will bring affordable renewable energy to a large swath of Minnesotans,” says Andrew Thurston, Director of Asset Acquisitions at DSD.
Community solar is a big reason Minnesota’s grid-connected solar capacity has increased nearly sevenfold in the last six years. Industry group Clean Energy Economy Minnesota expects renewable power production to increase from 2% of the state’s electricity in 2020 to 10% by 2030.
“Minnesota’s community solar program is widely recognized as a leader in terms of installed capacity, and DSD looks forward to additional opportunities to streamline and expand that impact,” says Joe Rosenberg, Director of Business Development at DSD.
DSD will serve as the long term owner and operator of the sites, which are expected to be operational by Q2 2023. Common Energy will be handling customer acquisition and subscriptions for the portfolio.
About DSD Renewables
DSD Renewables (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.
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