Morgan Stanley provides USD 70m in tax equity financing to DSD

Solar modules. Author: Oregon Department of Transportation. License: Creative Commons, Attribution 2.0 Generic.

May 4 (Renewables Now) - US solar developer DSD Renewables announced today it has received a tax equity investment of USD 70 million (EUR 65m) from Morgan Stanley Renewables Inc to support over 87 MW of distributed solar and storage installations.

DSD said in a statement that the financing will support commercial power purchase agreement (PPA), feed-in-tariff and community solar projects that will be realised this year. A sizable portion of them will be in New York, New Jersey and California.

The company also noted that the tax equity financing enables it to capture the full tax attributes of the systems and optimise value.

This is DSD’s second partnership with Morgan Stanley and it comes several weeks after the solar developer got a USD-200-million preferred equity investment from a fund managed by the Infrastructure and Power strategy of Ares Management Corp (NYSE:ARES).

(USD 1.0 = EUR 0.928)

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