DSD Renewables has received a $250 million strategic investment from Cox Enterprises to support DSD’s continuing mission of accelerating renewable energy deployment.
“This significant investment from Cox marks a pivotal milestone for DSD, enabling our continued evolution to becoming an influential market leader,” says DSD CEO Erik Schiemann. “Our growth, initially fueled by BlackRock’s faith in us, now enters a new chapter with Cox that will advance our position as a cleantech leader and scale our business.”
“The management team at DSD has built an impressive business with a bright future,” adds Will Thorburn of Cox Cleantech. “The way they are benefiting both business and the planet shows their ability to think innovatively and operate with purpose. We are looking forward to working with DSD to have an even larger impact in the years to come.”
The investment is Cox’s largest in the renewable energy sector to date. In addition, BlackRock’s Climate Infrastructure business is currently and will remain the majority stakeholder in DSD, alongside Cox.
Since 2019, DSD has raised over $2 billion in project capital, developing and deploying over 600 MW of solar and storage projects across the nation.
“BlackRock believes strongly in DSD and the fundamental value proposition around making solar more accessible to organizations. Since we first invested in 2019, the growth of the opportunity has dramatically increased, and we are pleased to see global companies of Cox’s caliber investing in the space,” says David Giordano, global head of BlackRock Climate Infrastructure.