SCHENECTADY, N.Y. (NEWS10) – On Wednesday, a Schenectady-based solar energy developer secured a $70 million tax equity investment fund from Morgan Stanley to harness more than 87 megawatts (MWs) of distributed solar and storage projects for this year. DSD renewables (DSD) help transform the way organizations harness clean energy.
The tax equity financing will enable DSD to capture the full tax attributes of the solar systems and optimize value. According to officials, funding will support commercial power purchase agreements, feed-in-tariff, and community solar projects, with a sizable portion going toward projects in New York, New Jersey, and California.
DSD is a solar network energy developer that partners with organizations to help accelerate the deployment of renewable energy resources for commercial, industrial, and municipal organizations across the country. DSD assists to provide industry-leading financing solutions and long-term asset ownership for solar developers and construction firms.
Just last month to fuel continued strategic growth, DSD secured a $200 million preferred equity investment from a fund managed by the Infrastructure and Power strategy of Ares Management Corporation they said. McDermott Will & Emery LLP served as counsel to DSD for the transaction.