Sidley Represents Distributed Solar Development, LLC in Groundbreaking US$155 Million Securitization

Sidley represented Distributed Solar Development, LLC (“DSD”), a leader in large-scale, custom solar PV and energy storage solutions, in a US$155 million private notes offering that securitized a portfolio of commercial and industrial (“C&I”) and community distributed generation (“CDG”) assets. The offering is the first ever 144A transaction to securitize a C&I portfolio with a significant concentration of CDG assets, and is the first term securitization sponsored by DSD. The deal sets an industry model for issuers seeking to bring community solar to debt capital markets.

The Sidley team was led by senior counsel Siegfried P. Knopf (Capital Markets/Global Finance), partner Tara Higgins (Energy and Infrastructure), senior managing associate Michael T. Sweeney (Global Finance), and associate Karl Pielmeier (Energy and Infrastructure). Additional support was provided by partners Nathan J. Greene (Investment Funds), Chris Hutchison (Energy and Infrastructure), Robert M. Kreitman (Tax), Hagai Zaifman (Tax), senior managing associate Tom Hunter (Banking and Financial Services), managing associate Marissa Prieto (Energy and Infrastructure), and senior managing associate Zuza Savoff (Tax).