Distributed Solar secures two-year $150 million construction revolver

By Taylor Fox

New York, March 3 – Distributed Solar Development secured a two-year $150 million construction revolver with Rabobank, according to a news release.

The new revolver will be used to finance Distributed Solar’s expanding pipeline of distributed generation solar projects in the commercial and industrial market.

The flexible structure of the Rabobank construction revolver aligns strongly with the $300 million debt facility that Distributed Solar 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,” said Distributed Solar chief financial officer Greg Fabso in the release.

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

Distributed Solar Development is a clean energy company based in Schenectady, N.Y.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.