Distributed Solar Development (DSD) has closed on a $300 million debt facility financed by Credit Suisse. The company also hinted that it will have more deals to announce in the near future.
The debt will be used to finance a broad range of commercial and industrial projects and distributed generation assets, according to the company, and will accommodate multiple tax equity partnerships and structures.
With financing secured, DSD now has the flexibility to support projects that will be developed in 2021 and 2022, as well as to support the company’s anticipated growth.
“Our team’s ability to map out projects is among the best in the industry,” said Erik Schiemann, DSD CEO. He said that the project pipeline is a clear indication of how renewable energy is driving business and environmental responsibility.
Since acquiring the company’s first solar portfolio in July (a four-project, 7.9 MW community solar portfolio from Oak Leaf Energy Partners), DSD has acquired another four-project, 3.9 MW community solar portfolio; announced three projects to be built on Cape Cod; acquired a three-project, 17 MW community solar portfolio from Source Renewables; and acquired a two-project, 10 MW community solar portfolio in Lenox, New York.
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