World : GE-backed firm raises $250 million to support solar growth

Distributed Solar Development, a developer of solar storage solutions, has closed $250 million in funding to support distributed energy generation projects through 2020.

The capital has been raised by Morgan Stanley, Silicon Valley Bank and Fifth Third Bank. Distributed Solar Development (DSD) says the funding follows its recent announcement of its partnership with BlackRock Real Assets and GE Renewable Energy.

Erik Schiemann, CEO at Distributed Solar Development, said: “This transaction positions DSD for significant growth over the next year as we work to meet growing demand from commercial and industrial clients for clean, renewable energy.

"Our ability to partner with some of the world's leading financial institutions underscores the importance of alternative energy as a business driver and as a force for environmental responsibility."

 

Source : https://www.smart-energy.com/renewable-energy/ge-backed-firm-raises-250-million-to-support-distributed-solar-growth/

Smart Grid Bulletin October 2019


View all SMART GRID Bulletins click here