DSD Acquires 22.3 MW Community Solar Portfolio from Source Renewables in New York State

SCHENECTADY, N.Y. – September 30, 2021 – Distributed Solar Development (DSD) has acquired another three-project, 15.6 MW community solar energy portfolio from Source Renewables, a renewable energy company focused on community solar and clean energy development in New York State. DSD is also in the process of acquiring a fourth project from Source Renewables, bringing the total portfolio size to 22.3 MW. The projects are located in Cortland, Onondaga, and Madison Counties, and are expected to be operational by Q3 2022.

“Source Renewables was a great partner the first time around, and we were ecstatic to re-engage and do more business together”

NY project DSD acquired last year.

This is the second transaction between DSD and Source Renewables in the last 10 months. Last December, DSD announced the acquisition of a three-project, 17 MW community solar energy portfolio in New York.

“Source Renewables was a great partner the first time around, and we were ecstatic to re-engage and do more business together,” says Kevin Hu, Manager, Asset Acquisitions at DSD. “Their disciplined and entrepreneurial approach makes it easy to work with them and saves us money, time, and resources. We look forward to continuing our relationship in the future.”

“DSD has become a trusted partner for us, and their resources and deep expertise across the development lifecycle has proven invaluable,” said Andrew Day, Partner at Source Renewables. “Our shoulder-to-shoulder partnership optimizes engineering, development, construction, ownership, and maintenance, which has ultimately enabled us to put more MWs in the ground.”

Forty percent of the offtake will go to large commercial and industrial customers, managed by DSD. The other 60% will be managed by Source Renewables and go to residential and small commercial customers.