Dimension Energy secures $857 million for U.S. solar expansion

Dimension Energy has secured $857 million to accelerate the development of 149 MW of distributed solar projects across five U.S. states: Illinois, New Jersey, New York, Pennsylvania, and Virginia.

The financing structure consists of two primary components: a $200 million increase to the company’s corporate credit facility, bringing the total to $650 million, and a $657 million construction-to-term debt and tax equity financing package. The credit facility was supported by Nuveen Energy Infrastructure Credit and funds managed by HPS Investment Partners. The tax equity portion is being provided by Advantage Capital to support 29 distributed solar projects.

Key participating financial institutions in the arrangement include Mitsubishi UFJ Financial Group, First Citizens Bank, ING Capital, National Bank of Canada, and Fifth Third Bank. The distributed solar model focuses on smaller or mid-sized projects located near electricity consumption points, such as residential areas, commercial buildings, and communities.