DSD Celebrates 5 Years with 1.1 GW of Solar + Storage Developed Deployed and Over $2B in Capital Raised

Over the last five years, DSD Renewables (DSD) has cemented itself as a leader in renewable energy solutions deployment, making solar, storage and EV charging infrastructure more accessible to organizations and communities across the country. Since its launch, DSD has expanded its footprint to 25 states and has had a sevenfold increase in the number of megawatts developed and deployed across the commercial and industrial (C&I) sector.

BlackRock’s Climate Infrastructure Global Renewable Power Fund II originally invested in the vision for the business five years ago, and a recent strategic investment from Cox Enterprises helped invigorate DSD’s growth. DSD has increased the number of developed and deployed solar projects from 125 to 731, starting with 126 MW of developed and deployed capacity, now at 957 MW to date. Securing funding from the world’s largest financial institutions, such as Bank of America, Morgan Stanley, and Credit Suisse, DSD has raised over $2B in capital and has grown its pipeline 442%, while its backlog of projects has increased 327%.

“We are pleased to support DSD dating back to our initial investment in 2019 and believe in the company’s ability to impact the deployment of renewable energy solutions at the end user level,” said David Giordano, Global Head of Climate Infrastructure, BlackRock.

As a market leader, DSD continues to pave the way with innovative development strategies and financing structures. Three years ago, it launched the first-of-its-kind software platform, DSD Connect, for its trusted network of regional developers and EPC partners, providing them with access to tools and financing to deploy solar projects more efficiently. Since launch, industry partners have used DSD Connect to create and price nearly 3.9 GW of solar across hundreds of distributed generation (DG) projects. Continuing to push the norms of project financing, DSD made its first asset-backed securitization (ABS) in December 2022, a groundbreaking deal for DG project financing, with community solar projects accounting for nearly half of the portfolio.

DSD has evolved into a trusted platform for distributed generation deployment, powering brands like IKEA, LG, Verizon, and The Home Depot, and expanding its offerings from patented and intricate in-house canopy designs, to innovative EV charging infrastructure installations paired with solar and storage. DSD’s projects, including the largest multi-use campus solar-plus-storage installation for Bishop Ranch and the largest single-site commercial renewable energy project in California for Six Flags, as well as other installations for San Bernardino City Unified School District, Mauna Loa, and the City of White Plains, are widely recognized across the industry and awarded for their substantial impact.

“At Cox, we’re focused on investing in businesses like DSD that will make the world a better place for the next generation,” says Will Thorburn, AVP of Cox Cleantech and Investments. “We’re very happy to be partnering with such a nimble and innovative solutions provider, and we look forward to what’s next on the horizon.”

As a top developer and owner of community solar in New York, DSD’s dedication to increasing access to affordable clean energy has expanded far beyond its base of commercial customers. Overall, DSD has deployed 206 MW of community solar across eight markets, delivering clean energy to over 4,000 resident subscribers. With the advent of the Inflation Reduction Act (IRA), DSD has been able to take advantage of more opportunities to expand its reach to low-to-moderate income communities that can benefit from solar the most.

“It’s really fulfilling to see our success be recognized by the investment community, and I’m grateful for the opportunity to work with such great partners like BlackRock and Cox,” says Erik Schiemann, CEO at DSD Renewables. “Their support is really a testament to all the outstanding work that my team has been able to accomplish and our continued commitment to advancing the distributed generation industry. From day one, we set out to tackle a complicated problem with the best solutions we can offer, and everyday I continue to be impressed with the team I have behind me, and look forward to every next step we take.”

DSD Renewables | https://dsdrenewables.com/