DSD raises US$250 million to support PV growth in 2020

Facebook
Twitter
LinkedIn
Reddit
Email
Fifth Third Bank  recently became the first Fortune 500 Company to achieve 100% renewable power with the opening of the 120MW Aulander Holloman Solar Facility in North Carolina back in August 2019. Image: Fifth Third

Distributed Solar Development (DSD), a business backed by BlackRock Real Assets’ Global Renewable Power platform and GE Renewable Energy, has closed on a US$250 million fund financed by Morgan Stanley, Silicon Valley Bank and Fifth Third Bank that will be utilised to fund a portfolio of distributed generation projects through 2020.

This fund was raised after DSD’s recent announcement of its partnership with BlackRock Real Assets and GE Renewable Energy.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Silicon Valley Bank has continued to grow a project finance business revolving around energy and resource innovation, with the bank committing more than US$1.3 billion to renewable energy projects as of the end of 1H2019. 

Fifth Third Bank  recently became the first Fortune 500 Company to achieve 100% renewable power with the opening of the 120MW Aulander Holloman Solar Facility in North Carolina back in August 2019. 

Erik Schiemann, CEO at DSD, said: “This transaction positions DSD for significant growth over the next year as we work to meet growing demand from commercial and industrial clients for clean, renewable energy. Our ability to partner with some of the world's leading financial institutions underscores the importance of alternative energy as a business driver and as a force for environmental responsibility.”

Jorge Iragorri, managing director at Morgan Stanley, added: “We are proud to partner with DSD, BlackRock Real Assets and GE Renewable Energy on the financing of this solar portfolio. We are excited to support our clients and continue growing renewable energy across the US.”

21 May 2024
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 21-22 May 2024, will be our third PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2025 and beyond.
8 October 2024
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 8-9 October 2024 is our second PV CellTech conference dedicated to the U.S. manufacturing sector. The event in 2023 was a sell out success and 2024 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
May 1, 2024
Dallas, Texas
Solar Media Events
May 21, 2024
Sydney, Australia