Rabobank Provides $150MM Construction Revolver to Distributed Solar Development

Distributed Solar Development secured a two-year, $150 million construction revolver with Rabobank to finance its pipeline of distributed generation solar projects in the commercial and industrial market.

The structure of the Rabobank construction revolver aligns with the $300 million debt facility that Distributed Solar Development 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,” Greg Fabso, CFO at Distributed Solar Development, said. “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 Distributed Solar Development’s business cycle, including an equipment supply sub-limit.

“Rabobank was delighted to arrange and structure this facility for the DSD team,” Claus Hertel, managing director of project finance at Rabobank, said. “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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