Atlanta, Georgia-headquartered Dimension Energy, a community solar developer, owner and operator, announced it has secured its largest construction and term financing, adding $412 million to support the development of a 134 MW portfolio of new projects.
The community solar projects are under development in Illinois, Maine, New Jersey, New York, Pennsylvania and Virigina. The company said once the projects are complete customer subscribers to the solar facilities can expect to see at least 10% savings on their utility bills by participating in community solar.
MUFG acted as lead debt syndicator, alongside First Citizens, ING, National Bank of Canada, Cadence, and Siemens, with Advantage Capital providing $176 million in tax equity. CRC-IB acted as the exclusive financial advisor to Dimension.
Dimension energy has executed more than 900 MW of community solar since its founding in 2018, serving more than 35,000 subscribers. The company said it plans to invest $4 billion over the next 5 years. It expects to have 800 MW in pre-construction-to-operations by the end of 2025, and 3.5 GW under development across 14 markets.
Electricity prices have steadily risen since 2018, outpacing the broader consumer price index, said the Energy Information Administration. The administration said it expects the trend to continue in 2026 amid steeply rising electricity demand. Community solar offers a pathway for investing in local clean energy and reducing bills for renters and homeowners that may be unable to install onsite rooftop solar.
“Investors clearly see increasing value in community solar amid the energy demand crisis,” said Rafael Dobrzynski, co-founder and chief executive officer, Dimension.
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