DSD Secures $200 Million Preferred Equity Investment from Ares Management to Support Strategic Growth

SCHENECTADY, N.Y. – March 3, 2022DSD Renewables (DSD) today announced it has secured a $200 million preferred equity investment from a fund managed by the Infrastructure and Power strategy of Ares Management Corporation (Ares) to fuel its continued strategic growth. The capital will be used to support DSD’s expanding pipeline of future projects in the commercial and industrial (C&I) market, grow its Developer Network, support corporate needs, and provide readily accessible capital for asset acquisitions.

“Bringing on another top tier investor to support business growth validates DSD’s approach and the power of our platform,” says Greg Fabso, CFO at DSD. “This investment from Ares, along with continued support from BlackRock Real Assets, will enable us to scale further as we strategically build out more renewable energy projects across the country, take on new partners, and grow our asset base.”

“This investment from Ares will enable [DSD] to scale further as we strategically build out more renewable energy projects across the country.”

DSD spun out of General Electric with backing from BlackRock Real Assets in mid-2019 as a C&I developer, financier, asset owner and operator. Since then, DSD has grown significantly, expanding into community solar and asset acquisition in 2020, and launching its Developer Network and DSD Connect platform in 2021.

DSD’s backlog of contracted and awarded projects has more than doubled each year since 2019, with 2021 seeing a 150% increase. DSD has a pipeline of over one GW of solar and energy storage projects today.

“Ares is excited to support the future growth of DSD as a market leader in C&I solar and storage, and we look forward to helping DSD execute on its growth plans,” says Mike Roth, Partner in Ares Infrastructure and Power. “We believe that there is significant potential for the continued expansion of the solar market in providing sustainable, cost-effective energy to businesses. This investment is another example of how our flexible capital enables us to help accelerate the transition to renewable energy and positively impact communities.”

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 LinkedInInstagram, and Facebook.

About Ares Management Corporation

Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of December 31, 2021, Ares Management Corporation’s global platform had approximately $306 billion of assets under management, with approximately 2,100 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com. Follow Ares on Twitter @Ares_Management.

Media Contacts

Meghan Gainer
VP Marketing & Communications, DSD Renewables
Email Meghan
P. 518-369-3692

Christian Rizzo
Gregory FCA for DSD Renewables
Email Christian
P. 610-228-2134

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