DSD Receives $250M Strategic Investment from Cox Enterprises
SCHENECTADY, N.Y. – Nov. 14, 2023 – DSD Renewables (DSD) has received a $250 million strategic investment from Cox Enterprises, Inc. (Cox) to support DSD’s growth as it continues to realize its mission of accelerating renewable energy deployment.
This investment is Cox’s largest renewable energy investment to date and demonstrates Cox’s commitment to building a more sustainable future. Cox is increasingly focused on cleantech and renewable energy, with substantial investments and acquisitions across a range of sustainable technologies. Cox remains dedicated to making a positive and lasting environmental impact on the world by supporting leading businesses.
“This significant investment from Cox marks a pivotal milestone for DSD, enabling our continued evolution to becoming an influential market leader," said Erik Schiemann, CEO at DSD. "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. This partnership is a testament to how far we’ve come and our unwavering commitment to accelerating renewable energy solutions deployment.”
“The management team at DSD has built an impressive business with a bright future,” said Will Thorburn, 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.”
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. With an ever-growing pipeline of projects and an expanding channel-partner program, the investment from Cox will allow DSD to further solidify its place as a hub for the distributed renewable energy solutions industry.
“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.
About DSD Renewables
DSD Renewables (DSD) is transforming the way organizations harness clean energy while building a more sustainable future. With unparalleled capabilities including development, structured financing, project acquisition and long-term asset ownership, DSD accelerates the deployment of renewable energy resources and creates significant value for our commercial, industrial, and municipal customers and partners. Backed by world-leading financial partners, our team brings a distinct combination of ingenuity, rigor, and accountability to every project we manage, acquire, own, and maintain. To learn more, visit DSDRenewables.com and connect with us on LinkedIn, Twitter, and Facebook.
About Cox Enterprises
Cox Enterprises is dedicated to empowering people to build a better future for the next generation. Cox is a leader in the broadband, automotive, and media industries, as well as a leading investment platform with strategic positions in emerging technologies driving the future of agriculture, renewable energy, health care, and public sector software. Headquartered in Atlanta, Georgia, Cox is a global company with $22 billion in annual revenues and a proud 125-year history. To learn more about Cox and its commitment to its people, planet and communities, visit coxenterprises.com.
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