Ares Management Invests 200 Million in Solar Developer DSD

A fund managed by Ares Management's infrastructure and power strategy has made a 200 million (€178.2 million) preferred equity investment in US solar developer DSD Renewables.

Backed by BlackRock Real Assets, DSD was spun off from General Electric in mid-2019 as an independent developer, financier, asset in the commercial and industrial (CI) market Owner and operator operated. Since then, the company has also expanded into community solar and asset acquisitions, and launched its developer network and DSD Connect platform.

DSD intends to use the new funding to support its expanding project pipeline, expand its development network, support corporate needs, and fund asset acquisitions, the company said. The company's backlog of contracts and award-winning projects has surged by 150 percent in 2021, and its current pipeline exceeds 1 kilowatt of solar and energy storage.

Greg Fabso, chief financial officer of DSD, said: "The investment in Ares, coupled with the continued support of BlackRock Real Assets, will allow us to strategically build more of renewable energy projects, working with new partners and expanding our asset base to further scale." (1.0 = €0.891)