Dimension Energy has secured $650 million in construction and term financing to support a 132 MW portfolio of 25 community solar projects across Pennsylvania, New York, New Jersey, and Illinois. The financing represents the company’s largest to date and underscores continued momentum in distributed solar development as electricity costs rise across the U.S.
The financing package includes $415 million in debt provided by First Citizens Bank, Mitsubishi UFJ Financial Group, ING Capital LLC, and National Bank of Canada. An additional $235 million in tax equity was contributed by Franklin Park, marking its first partnership with the company.
The projects are expected to deliver locally generated clean energy to tens of thousands of customers, offering immediate savings on utility bills while reducing reliance on long-distance transmission infrastructure. The company noted that its community solar projects can typically be developed and brought online in as little as 18 months.
Founded in 2018, Dimension Energy has executed more than 1,000 MW of community solar projects and invested over $1 billion in distributed energy infrastructure. The company currently has 3.5 GW under development across 14 markets and serves more than 35,000 customers nationwide.
This latest financing further strengthens Dimension Energy’s position as a major player in the U.S. community solar market and highlights growing institutional support for distributed renewable energy solutions.
KEY QUOTES
“Our largest project financing to-date is a testament to Dimension’s track record and the critical role distributed generation plays in solving America’s energy crisis. We’re thrilled to welcome Franklin Park as a new partner and to continue our strong relationships with First Citizens Bank, MUFG, ING, and National Bank of Canada.”
Rafael Dobrzynski, Co-Founder And CEO, Dimension Energy
“Dimension Energy is a leader in delivering clean power through their community solar projects across the U.S. Our team is committed to delivering tailored financing to help clean energy innovators achieve their growth objectives. We are excited to continue our long-standing relationship with Dimension Energy by providing financing to support this latest portfolio of projects.”
Mike Lorusso, Group Head Of Energy Finance, First Citizens Bank
“MUFG is pleased to have acted as a coordinating lead arranger for the successful closing of Dimension Energy’s latest landmark project. Distributed power generation, and community solar in particular, is a growing segment of the renewable energy market that plays a vital role in meeting U.S. energy needs and enables the participation of a wide range of community members. We look forward to continuing to support Dimension’s ambitious growth in the industry.”
Fred Zelaya, Managing Director – Project Finance, Mitsubishi UFJ Financial Group
“We are proud to have supported Dimension across multiple financings over several years, and to continue that partnership with the successful closing of this most recent transaction. Dimension’s ability to deliver high-quality portfolios across markets has positioned them as a well-established leader in the sector, and we are pleased to continue supporting their growth through our ongoing relationship.”
Nada Elreedy, Director Renewables & Power, ING Capital LLC
“National Bank of Canada is proud to support Dimension Energy on its most recent community solar portfolio. Building on our long-term partnership with Dimension, this financing underscores our commitment to promoting sustainable development by actively supporting our clients across the renewable energy sector.”
John Hunt, Managing Director, Project Finance, National Bank Of Canada
“Franklin Park is proud to partner with Dimension Energy on this portfolio of community solar projects. Dimension is a leader in solar development and operations, and their proven platform makes them an ideal partner for us as we increase our investments in distributed clean energy assets.”
Neil McQueen, Vice President, Franklin Park Infrastructure
