$250 Million Infusion: A Major Financial Win for DSD Renewables
DSD Renewables, a prominent player in the renewable energy sector, has recently announced a significant milestone in its growth journey. The company has secured a substantial $250 million strategic investment from Cox Enterprises, marking the largest investment in DSD Renewables to date. This infusion of capital is set to bolster DSD Renewables’ already expansive portfolio of renewable energy projects, which includes a diverse range of solar initiatives.
DSD Renewables’ portfolio is impressively varied, encompassing solar energy projects in multiple sectors. These include installations on retirement homes, municipal power projects, community solar initiatives, and corporate solar ventures. This wide-ranging approach underscores the company’s commitment to diversifying its renewable energy contributions and its ability to innovate in different contexts.
Will Thorburn of Cox Cleantech praised the DSD management team for their impressive business acumen and forward-thinking approach. He highlighted DSD’s dual focus on benefiting businesses while positively impacting the planet, noting its innovative strategies and purpose-driven operations.
Cox Enterprises, headquartered in Atlanta, Georgia, is a global powerhouse with a rich history spanning 125 years and annual revenues of $22 billion. This investment in DSD Renewables signifies Cox’s commitment to supporting sustainable and innovative energy solutions.
BlackRock’s Climate Infrastructure fund, which has been the majority stakeholder in DSD Renewables since a $250 million investment in 2019, will continue to hold the majority stake. This ongoing partnership with BlackRock has been a cornerstone of DSD’s growth and success.
Erik Schiemann, the CEO of DSD, expressed gratitude for BlackRock’s initial investment and enthusiasm for the new chapter with Cox Enterprises. He emphasized that this partnership will further cement DSD’s position as a leader in cleantech and enable the company to scale its operations more effectively.
Since 2019, DSD Renewables has raised an impressive total of over $2 billion in project capital. The company has been instrumental in developing and deploying over 600 MW of solar and energy storage projects across various locations in the United States, showcasing its capability and reach in the renewable energy sector.
David Giordano, the global head of BlackRock Climate Infrastructure, reflected on the growth of the renewable energy opportunity since their initial investment in DSD. He expressed satisfaction in seeing globally recognized companies like Cox Enterprises investing in renewable energy, a testament to the sector’s growing importance and potential.
