DSD Renewables, a New York-based developer of distributed solar, storage, and EV infrastructure solutions, has secured $238 million in long-term financing. The financing was co-led by First Citizens Bank, MUFG, and Nomura, and was structured as a five-year mini-perm facility refinancing warehouse debt. According to DSD Renewables, proceeds are supporting 233 MW of operational solar and solar-plus-storage capacity across 188 installations in 12 US states and Washington D.C. The portfolio has included rooftop, ground-mount, and canopy systems, with 127 MW specifically allocated to community solar projects serving multiple regions. Three projects were paired with battery storage systems that were designed to enhance flexibility and strengthen overall grid resilience. As per DSD Renewables, the financing has adopted a structure similar to asset-backed securities, ensuring capital flexibility while supporting future development and procurement needs. Earlier this year, DSD Renewables had signed a contract with California-based SPURR to serve as developer partner for the Renewable Energy Aggregated Procurement (REAP) Program in the US.