Distributed Solar Development Secures $150M in Revolver Financing from Rabobank

Source: www.gulfoilandgas.com 3/3/2021, Location: North America

Distributed Solar Development (DSD) announced has secured a two-year, $150 million construction revolver with Rabobank, a global food and agribusiness bank and leader in sustainability-oriented banking, to finance its expanding pipeline of distributed generation solar projects in the commercial and industrial (C&I) market.

The flexible structure of the Rabobank construction revolver aligns strongly with the $300M debt facility that DSD closed with Credit Suisse in late January.

“This construction revolver provides a flexible back leverage solution that will enable us to continue scaling as we work to become an industry hub for the C&I market,” says Greg Fabso, CFO at DSD. “Our expertise and experience enable a true one-stop solution for origination, development, financing, and management.”

The revolver incorporates multiple tax equity partnerships and will deliver capital throughout DSD’s business cycle, including an equipment supply sub-limit.

“Rabobank was delighted to arrange and structure this facility for the DSD team,” says Claus Hertel, Managing Director, Project Finance at Rabobank. “Distributed generation in the C&I space is becoming increasingly relevant and we are thrilled to support a leading developer with strong U.S. growth ambitions.”


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