A DSD set up in New York
DSD Renewables (DSD) has secured a $40 million tax fairness funding from U.S. Bank to help its 2022 and 2023 construct plans.
The financing will fund a forty five MW portfolio consisting of a mixture of group solar, power buy settlement and feed-in-tariff tasks. About half of the tasks are positioned in New York, with the remaining tasks scattered throughout Connecticut, Maine, Maryland, Minnesota, New Jersey and Virginia.
By the top of the 12 months, DSD can have raised over $1.5 billion in funding to speed up solar venture deployment in 22 states.
“This tax equity investment will help DSD optimize value for many key projects under development and enable us to continue supporting the energy transition across the U.S.,” says Hannah McGovern, DSD’s VP of structured finance. “We are excited to be partnering with U.S. Bank and look forward to expanding our work together in the future.”
The tax fairness financing represents DSD’s first transaction with U.S. Bank, which commits $1 billion yearly to renewable energy investments and has set a purpose to attain internet zero greenhouse fuel emissions by 2050.
McDermott Will & Emery LLP served as counsel to DSD on the transaction.