Distributed Solar Development (DSD) has announced that it has raised $250m to fund its energy generation projects in 2020. DSD is a subsidiary of GE Renewable Energy funded by investment group BlackRock through its Real Assets Global Renewable Power platform.
DSD’s backers in the fundraising are Morgan Stanley, Silicon Valley Bank and Fifth Third Bank. For Morgan Stanley, investing in DSD fits in with its commitment to providing $250bn for low-carbon financing by 2030.
DSD CEO Erik Schiemann outlined what the company will seek to achieve with this fund in a lengthy post on LinkedIn. Schiemann described solar power in the US as being as a critical juncture due to the industry being fractured despite the great opportunities due to falling solar prices.
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