Ares Management backs DSD

DSD Renewables, a renewable energy firm, has secured $200 million in funding.

DSD Renewables, a renewable energy firm, has secured $200 million in funding. The investor was Ares Management Corporation. DSD spun out of General Electric with backing from BlackRock Real Assets in mid-2019.


SCHENECTADY, N.Y. – March 3, 2022 – DSD Renewables (DSD) today announced it has secured a $200 million preferred equity investment from a fund managed by the Infrastructure and Power strategy of Ares Management Corporation (Ares) to fuel its continued strategic growth. The capital will be used to support DSD’s expanding pipeline of future projects in the commercial and industrial (C&I) market, grow its Developer Network, support corporate needs, and provide readily accessible capital for asset acquisitions.

“Bringing on another top tier investor to support business growth validates DSD’s approach and the power of our platform,” says Greg Fabso, CFO at DSD. “This investment from Ares, along with continued support from BlackRock Real Assets, will enable us to scale further as we strategically build out more renewable energy projects across the country, take on new partners, and grow our asset base.”

DSD spun out of General Electric with backing from BlackRock Real Assets in mid-2019 as a C&I developer, financier, asset owner and operator. Since then, DSD has grown significantly, expanding into community solar and asset acquisition in 2020, and launching its Developer Network and DSD Connect platform in 2021.

DSD’s backlog of contracted and awarded projects has more than doubled each year since 2019, with 2021 seeing a 150% increase. DSD has a pipeline of over one GW of solar and energy storage projects today.

“Ares is excited to support the future growth of DSD as a market leader in C&I solar and storage, and we look forward to helping DSD execute on its growth plans,” says Mike Roth, Partner in Ares Infrastructure and Power. “We believe that there is significant potential for the continued expansion of the solar market in providing sustainable, cost-effective energy to businesses. This investment is another example of how our flexible capital enables us to help accelerate the transition to renewable energy and positively impact communities.”

About DSD Renewables
DSD Renewables (DSD) is transforming the way organizations harness clean energy. With unparalleled capabilities including development, structured financing, project acquisition and long-term asset ownership, DSD creates significant value for our commercial, industrial and municipal customers and partners. Backed by world-leading financial partners like BlackRock Real Assets and rooted in our founding at GE with a 120+ year legacy of innovation, our solar energy team brings a distinct combination of ingenuity, rigor, and accountability to every project we manage, acquire, own and maintain. To learn more about our industry-leading solar energy solutions, visit and be sure to connect with us on LinkedIn and Twitter.