Dimension Energy Announces $857M in New Solar Financing
Dimension Energy has announced $857 million in additional financing to expand its distributed solar portfolio in the United States. The funding includes a $200 million increase to its corporate credit facility and a $657 million construction debt and tax equity package.
The financing will support 29 solar projects totaling 149 MW across Illinois, New Jersey, New York, Pennsylvania and Virginia. Dimension currently has more than 600 MW of distributed energy assets operating or under construction and is targeting 1 GW by 2028.
The new capital will help the company “keep scaling with discipline and speed,” CEO Rafael Dobrzynski said, as demand for distributed power continues to grow. Don Dimitrievich, Global Head of Nuveen Energy Infrastructure Credit, said distributed solar is well positioned to provide power closer to where it is needed as electricity demand and grid costs rise.
The financing follows a $650 million portfolio financing completed earlier this year and adds to Dimension's growing investment in distributed solar projects across the country.
Source: businesswire.com
