” Distributed Solar Development (DSD) announced today the closing of $85 million in tax equity financing from Bank of America to support its expanding pipeline of distributed generation solar projects in the commercial and industrial (C&I) market through 2021, with a sizeable portion going toward New York State Energy Development and Research Authority Value of Distributed Energy Resources (VDER) assets.
This is the third major financing deal DSD has closed this year. DSD previously announced a two-year, $300 million debt facility financed by Credit Suisse in January and a two-year, $150 million construction revolver with Rabobank in March, both of which will support DSD’s expanding pipeline of distributed generation solar projects in the C&I market.
“Our tax equity financing with Bank of America nicely complements the Credit Suisse and Rabobank financing deals closed earlier this year, and once again validates DSD’s evolution as an industry hub for the C&I market,” says DSD CEO Erik Schiemann. “We look forward to further developing our industry-leading renewable energy solutions.””
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Street Insider 20 May 2021.