July 23, 2024


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Local solar developer secures $70M from Morgan Stanley

SCHENECTADY, N.Y. (News10) – On Wednesday, a Schenectady-primarily based photo voltaic vitality developer secured a $70 million tax equity expenditure fund from Morgan Stanley to harness extra than 87 megawatts (MWs) of dispersed photo voltaic and storage tasks for this 12 months. DSD renewables (DSD) assist transform the way businesses harness thoroughly clean electrical power.

The tax fairness financing will permit DSD to capture the full tax attributes of the photo voltaic systems and improve worth. According to officers, funding will aid business electrical power buy agreements, feed-in-tariff, and neighborhood solar assignments, with a sizable part heading towards assignments in New York, New Jersey, and California.

DSD is a photo voltaic community power developer that companions with companies to aid accelerate the deployment of renewable energy means for professional, industrial, and municipal organizations across the state.  DSD assists to supply market-major financing remedies and lengthy-term asset ownership for solar developers and building companies.

Just very last thirty day period to gasoline ongoing strategic progress, DSD secured a $200 million most popular fairness financial investment from a fund managed by the Infrastructure and Energy technique of Ares Management Corporation they explained. McDermott Will & Emery LLP served as counsel to DSD for the transaction.