DSD Renewables announced it has received a $250 million strategic investment from Cox Enterprises to support its expanding renewable energy project portfolio. The investment from Cox is the company’s largest to date.
DSD Renewables has a wide portfolio of solar projects, including on retirement homes, municipal power, community solar, corporate solar and more.
“The management team at DSD has built an impressive business with a bright future,” said Will Thorburn, Cox Cleantech. “The way they are benefiting both business and the planet shows their ability to think innovatively and operate with purpose.”
Headquartered in Atlanta, Georgia, Cox is a global company with $22 billion in annual revenues and a 125-year history.
BlackRock’s Climate Infrastructure fund is currently the majority stakeholder in DSD Renewables and will remain the majority holder. The fund invested $250 million in DSD in 2019.
“Our growth, initially fueled by BlackRock’s faith in us, now enters a new chapter with Cox that will advance our position as a cleantech leader and scale our business,” said Erik Schiemann, chief executive officer, DSD.
Since 2019, DSD has raised over $2 billion in project capital. It has developed and deployed over 600 MW of solar and energy storage projects in locations across the U.S.
“Since we first invested in 2019, the growth of the opportunity has dramatically increased, and we are pleased to see global companies of Cox’s caliber investing in the space,” says David Giordano, global head of BlackRock Climate Infrastructure.
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