News

Dimension Energy Closes $650 Million Community Solar Project Financing Package

April 1, 2026

Atlanta, GA – Dimension Energy (Dimension), a leading community solar developer, owner, and operator, announced it has secured its largest construction and term financing, $650 million, to support a 132MW portfolio of 25 community solar projects in Pennsylvania, New York, New Jersey, and Illinois.

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First Citizens Bank, Mitsubishi UFJ Financial Group, Inc. (MUFG), ING Capital LLC, and National Bank of Canada provided $415 million in debt financing, joined by first-time Dimension partner Franklin Park, which contributed $235 million in tax equity.

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“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,” said Rafael Dobrzynski, Co-Founder and CEO of Dimension Energy. “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.”

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The value proposition of community solar continues to grow as U.S. electric prices reach historic highs. Community solar projects provide subscribers with immediate savings on their utility bills and generate power close to where it is used, minimizing the need for costly long-distance transmission infrastructure. Dimension’s projects are frequently developed and brought online in as little as 18 months.

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“Dimension Energy is a leader in delivering clean power through their community solar projects across the U.S.,” said Mike Lorusso, Group Head of Energy Finance at First Citizens Bank. “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.”

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“MUFG is pleased to have acted as a coordinating lead arranger (CLA) 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,” said Fred Zelaya, Managing Director – Project Finance, MUFG.

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“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,” said Nada Elreedy, Director Renewables & Power, ING Capital LLC. “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”

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“National Bank of Canada is proud to support Dimension Energy on its most recent community solar portfolio,” said John Hunt, Managing Director, Project Finance at National Bank of Canada. 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.”

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“Franklin Park is proud to partner with Dimension Energy on this portfolio of community solar projects,” said Neil McQueen, Vice President, Franklin Park Infrastructure. “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.”

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This transaction underscores Dimension Energy’s continued ability to scale high‑impact community solar through strong capital partnerships and disciplined execution. With this financing, Dimension advances its mission to deliver affordable, locally generated clean energy while expanding access to reliable infrastructure across key U.S. markets.

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CG/ CRC-IB acted as the exclusive financial advisor to Dimension. Stoel Rives LLP served as counsel for Dimension, Foley & Lardner LLP served as counsel for the lender group, and McDermott Will & Schulte served as counsel for Franklin Park. Enertis Applus + acted as the independent technical advisor for the projects.

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About Dimension Energy

Dimension Energy is a leading community solar developer, owner, and operator. Since its founding in 2018, Dimension has executed more than 1,000 megawatts (MW) of community solar and invested more than $1B in distributed energy infrastructure. Dimension has 3.5 GW under development across 14 markets today, and serves over 35,000 customers. In the communities where we invest, our projects deliver clean energy, local jobs, tax revenue, and savings, alongside other benefits including workforce development and educational opportunities. Learn more at www.dimension-energy.com

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About First Citizens Bank

First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh, N.C., First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services including a network of branches and offices nationwide; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; and a nationwide direct bank. Parent company First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $200 billion in assets and a member of the Fortune 500™. Discover more at firstcitizens.com.

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About Mitsubishi UFJ Financial Group, Inc. (MUFG)

Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with approximately 2,000 locations in more than 40 countries. The Group has about 150,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to “be the world’s most trusted financial group” through close collaboration among our operating companies and flexible response to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges. For more information, visit https://www.mufg.jp/english.

MUFG’s Americas operations, including its offices in the U.S., Latin America, and Canada, are primarily organized under MUFG Bank, Ltd. and subsidiaries, and are focused on Global Corporate and Investment Banking, Japanese Corporate Banking, and Global Markets. MUFG is one of the largest internationally headquartered financial institutions in the Americas. For locations, banking capabilities and services, career opportunities, and more, visit https://www.mufgamericas.com.

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About ING Capital LLC

ING Capital LLC is a financial services firm offering a full array of wholesale financial lending products and advisory services to its corporate and institutional clients. ING Capital LLC is an indirect U.S. subsidiary of ING Bank NV, part of ING Groep NV (NYSE: ING), a global financial institution with a strong European base. The purpose of ING Bank is empowering people to stay a step ahead in life and in business. ING Bank’s more than 60,000 employees offer retail and wholesale banking services to customers in over 100 countries. Please note that neither ING Groep NV nor ING Bank NV have a banking license in the U.S. and are therefore not permitted to conduct banking activities in the U.S.

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About National Bank of Canada

With $606 billion in assets as at January 31, 2026, National Bank of Canada (the “Bank”) is one of Canada's six systemically important banks. The Bank has more than 35,000 employees in knowledge-intensive positions and operates three business segments in Canada: Personal and Commercial Banking, Wealth Management and Capital Markets. A fourth segment, U.S. Specialty Finance and International, complements the growth of its domestic operations. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank’s activities at nbc.ca or via social media.

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About Franklin Park Infrastructure

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Franklin Park is an international infrastructure company with a diverse portfolio of tax credit investments, energy generation and storage projects, and infrastructure businesses. www.frpark.com

Dimension Energy Surpasses $1 Billion Raised in 2025 With Corporate Credit Facility Upsize to $450 Million

October 23, 2025

Atlanta, GA – Dimension Energy, a leading developer, owner, and operator of community solar projects, today announced that the company has raised over $1 billion from investors this year with the successful close of an upsizing of its corporate credit facility from $300 million to $450 million. The upsizing was led by investment funds and accounts managed by HPS Investment Partners, LLC, a global investment firm with deep expertise in energy and infrastructure debt investments.

The original $300 million facility was co-led by Deutsche Bank and Nuveen Energy Infrastructure Credit, who remain key supporters of Dimension Energy’s continued growth. The additional resources will further the deployment of Dimension’s robust 3.5 GW community solar pipeline.

“We’re proud to have HPS Investment Partners’ support as we reach this financing milestone and scale to meet growing demand for local, reliable, lower cost energy solutions,” said Rafael Dobrzynski, CEO of Dimension Energy. “This upsized facility will accelerate Dimension’s near-term development and pre-construction activities.”

The value proposition of community solar continues to increase as electric rates rise across the country. Dimension’s projects are often developed and brought online in as little as 18 months, and subscribers see immediate savings on their utility bills. Community solar projects also produce electricity close to where it is used, minimizing the need for costly long-distance power lines. One of Dimension’s newest projects in New Jersey was heralded by local leaders for “lowering costs at a time when families need relief the most.”

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About Dimension Energy‍

Dimension Energy is a leading community solar developer, owner, and operator. Dimension has executed more than 900 megawatts (MW) of community solar since its 2018 founding, serving more than 35,000 subscribers. The company plans to invest $4 billion over the next 5 years, will have more than 800 MW in pre-construction-to-operations by the end of 2025, and 3.5 GW under development across 14 markets. In the communities where we invest, our projects deliver clean energy, local jobs, tax revenue, and savings, alongside other benefits including workforce development and educational opportunities. Dimension is making clean energy work for everyone. Learn more at www.dimension-energy.com.

NJBPU President Guhl-Sadovy, Union Township Elected Officials, NJ LCV, and Black Bear Energy Joined Dimension Energy for Grand Opening of Largest Community Solar Project in the Township of Union

September 24, 2025

Union Township, NJ – Today, Dimension Energy celebrated the grand opening of Union Township’s largest community solar project with Board of Public Utilities (BPU) President Christine Guhl-Sadovy, Union County Commissioner Sergio Granados, Township of Union Committeeman Manuel Figueiredo, Township of Union Committeewoman Patricia Guerra-Frazier, Chief of Staff to State Senator Joseph Cryan Petra Gaskins, Black Bear Energy, New Jersey LCV, and local subscriber Arthur Pinckney Sr. Amid an energy cost crisis in New Jersey, the new 3.12MW rooftop community solar project at 750 Union Ave. will save over 450 households an average of $900/year on their energy bills—totaling close to $20 million in savings over the life of the project.

Dimension’s portfolio of 29 community solar projects on warehouse rooftops across the state will provide affordable energy for 10,000 New Jersey households by the end of this year, thanks in large part to enrollment partnerships with municipalities like the Township of Union, and local partners like the United Passaic Organization.

“With electric bill rate hikes as high as 20% for New Jersey residents, Dimension is proud to partner with the Township of Union and partners across the state to bring a low-cost energy choice to thousands of Garden State residents,” said Dimension Energy Chief Development Officer and Co-Founder Sam Younes. “By working hand-in-hand with local and state partners, we’re able to tap into existing infrastructure and generate low-cost power where it is needed as quickly as possible—saving families money on their energy bills, opening the doors to good-paying local solar jobs, and delivering economic benefits for years to come.”

Community solar has the benefit of being fast to develop, and it’s cheaper for subscribers than other energy options. Recently, under Governor Murphy’s leadership, the Board of Public Utilities (BPU) has been directed to authorize 3,000 megawatts of new community solar capacity by October, greatly expanding access to affordable energy across the state. Dimension Energy is supporting this growth with projects that deliver energy bill savings, create workforce opportunities, and strengthen local community partnerships.

“At a time when we are hearing from constituents all over the state concerned about rising energy costs, it is programs like this that help local residents, especially low-to-moderate income households, save money for their families,” said State Senator Joseph Cryan (D-20). “I want to thank Dimension Energy and Black Bear Energy for choosing Union Township, a township committed to working with all stakeholders and partners to ensure we increase our electricity generation in a way that is beneficial for the environment and the future of all of our children.

“This community solar project is a great example of how local projects can benefit local consumers in New Jersey,” said NJBPU President Christine Guhl-Sadovy. “When it comes online, the participating subscribers will see significant savings on their monthly bills. It’s easy to sign up for a community solar project near you – almost anyone with an electric bill is eligible."

“This initiative is not just about harnessing the sun's power; it’s about empowering and providing our residents with access to clean, renewable energy, regardless of whether they own their homes or rent,” said Manuel Figueiredo, Township of Union Committeeman. “Thank you to our residents and program subscribers for participating in this project as we collectively take a significant step toward reducing our carbon footprint and fostering a greener, healthier environment for future generations.”

“Union Township continues to make sure the needs of the residents come first, and this project speaks to all of the hard work in making sure that we’re doing so," said Union County Commissioner Sergio Granados.

“The greatest thing for me, as a subscriber, is where the program came from. When Union Township puts its name behind something, you know they have done the research and they know the reputation of the company they’re getting involved with — so you feel a lot more comfortable subscribing,” said local subscriber Mr. Arthur Pinckney Sr. “I’m looking forward to the savings, but one of the major sticking points for me was this partnership between the Township and Dimension Energy.”

"We are proud to have partnered with Dimension to bring this remarkable project to Union Township,” said Black Bear Energy Founder and President Drew Torbin. “This initiative provides local residents with access to clean, affordable energy while demonstrating the potential of community-driven solutions."

“Today’s solar project will lower energy costs at a time when families need relief the most. It also means local jobs, strong wages to support families, and new career pathways in one of the fastest-growing industries in the country, said Ed Potosnak, Executive Director, New Jersey LCV. “Right now, solar energy isn’t just clean — it’s also the cheapest form of energy available. So as we cut the ribbon today, let’s remember this project is about more than solar panels. It’s about creating a stronger, more affordable, and more sustainable future for Union Township and all of New Jersey.”

Dimension Energy is investing $2.8 million in local enrollment and clean energy career training partnerships in New Jersey. Over 40,000 NJ public school students are now learning about clean energy through new STEM programming, preparing them for new clean energy jobs and pre-apprenticeship training at 8 career technical high schools and community colleges across the state. Key community partners include Middlesex College, Mercer County Community College, Hudson County Community College, Rowan College of South Jersey, Students2Science, Greater Bergen Community Action, NJ Community Development Corporation, and more.

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‍About Dimension Energy‍

Dimension Energy is a leading community solar developer, owner, and operator. Dimension has executed more than 800 megawatts (MW) of community solar since its 2018 founding, serving more than 30,000 subscribers. The company plans to invest $4 billion over the next 5 years, will have more than 800 MW in pre-construction-to-operations by the end of 2025, and 3.5 GW under development across 14 markets. In the communities where we invest, our projects deliver clean energy, local jobs, tax revenue, and savings, alongside other benefits including workforce development and educational opportunities. Dimension is making clean energy work for everyone. Learn more at www.dimension-energy.com.

About Black Bear Energy‍

A Legence Company (Nasdaq: LGN), Black Bear Energy is a technology-enabled, commercial buyer’s representative specializing in onsite renewable energy and cleantech services. In the past ten years, Black Bear has helped its clients bid out over 2,000 clean technology projects in more than 20 states through its data-driven process. For more information about Black Bear Energy, visit BlackBearEnergy.com.

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Dimension Energy Closes $360 Million Financing Package

June 16, 2025

Company’s largest financing to-date will support 112 MWdc community solar portfolio

Atlanta, GA – Dimension Energy (Dimension), a leading community solar developer, owner, and operator, announced it has secured its largest construction and term financing ever, $360 million, to support a new 112 MWdc portfolio of 28 community solar projects in New Jersey, Illinois, Delaware, Virginia, Maine, and Pennsylvania.

First Citizens Bank acted as lead debt syndicator, alongside ING, MUFG, National Bank of Canada, Siemens, Cadence, and Comerica. Advantage Capital provided $170 million in tax equity. This portfolio of community solar projects will create at least 500 jobs, as well as workforce development programs from high school through mid-career, creating additional paths to good paying local careers in solar and related trades.

“This financing milestone is a testament to Dimension’s experienced team and our proven track record of execution,” said Rafael Dobrzynski, Co-Founder and CEO of Dimension. “We are pleased to close another deal and continue our longstanding partnerships with First Citizens Bank and Advantage Capital, as well as ING, National Bank of Canada, Siemens, Cadence, and Comerica, and we’re thrilled to welcome MUFG into the fold.”

“Community solar projects developed by Dimension Energy are delivering clean power and contributing to enhanced economic development across the U.S.,” said Mike Lorusso, group head of Energy Finance at First Citizens Bank. “We appreciated the opportunity to again support Dimension Energy with financing to advance its business objectives.”

“We’re proud to deliver high-impact capital at scale and to support Dimension’s ambitious vision. This investment will strengthen local energy grids, create good-paying jobs, and expand access to lower-cost power in communities across the country. Dimension’s team brings deep expertise and a strong commitment to local impact—making them an ideal partner for building a more resilient energy future,” said Tom Bitting, Managing Director at Advantage Capital.

With electricity costs rising across the U.S. due to spiking energy demand from A.I. and data centers, community solar has the benefit of being fast to develop, and it’s cheaper for subscribers than other energy options. As New Jersey Governor Phil Murphy recently highlighted, “you can bring [community solar] online faster than any other source of energy.”

This close is Dimension’s third major financing this year, on top of $300M in deals with Nuveen and Deutsche Bank, and the sale of $128M in tax credits to a Fortune 500 buyer. Investors continue to look to community solar in the current policy environment because of the short development and construction timelines, diversified portfolios spread out over multiple markets, and benefits to local energy grids.

“The growth of distributed generation is transforming the energy landscape and empowering communities with greater access to clean energy,” said Neha Mahajan, CRC-IB Director. “With this latest financing, Dimension is well-positioned to further scale their operations, solidifying their leadership in the market. We’re grateful for our continued partnership and honored to support their capital-raising efforts.”

CRC-IB acted as the exclusive financial advisor to Dimension. Community solar projects provide power to the more than 50 percent of individuals who are unable to put solar on their homes or apartments. Dimension’s projects tap into existing infrastructure, generate power where it is needed, and provide low-cost clean electricity to surrounding communities.

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About Dimension Energy

Dimension Energy is a leading community solar developer, owner, and operator. Dimension has executed more than 700 megawatts (MW) of community solar since its 2018 founding, serving more than 30,000 subscribers. The company plans to invest $4 billion over the next 5 years, will have more than 800 MW in pre-construction-to-operations by the end of 2025, and 3.5 GW under development across 14 markets. In the communities where we invest, our projects deliver clean energy, local jobs, tax revenue, and savings, alongside other benefits including workforce development and educational opportunities. Dimension is making clean energy work for everyone. Learn more at www.dimension-energy.com.

About First Citizens Bank

First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh, N.C., First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services including a network of branches and offices nationwide; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; and a nationwide direct bank. Parent company First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $200 billion in assets and a member of the Fortune 500™. Discover more at firstcitizens.com.

About Advantage Capital

Advantage Capital is a leading impact investment firm with an emphasis on driving capital to underserved areas. The firm provides flexible financing to growth-ready entrepreneurs and industries located in communities that often lack access to conventional sources of capital. Since 1992, the firm has invested more than $4.3 billion in more than 1,000 companies to support more than 77,000 quality jobs. The firm also invests with intention in affordable housing developments and renewable energy solutions to grow economies and communities. Learn more at Advantagecap.com.

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About CRC-IB

CRC-IB is a full-service investment bank providingindustry-leading financial services across the energy transition. We leverageour capital markets and sector technology expertise to provide innovativeproject finance, capital raising, and M&A solutions, optimizing clientoutcomes in an ever-shifting energy landscape. Our belief since inceptionis that every transaction is a catalyst for change, every closing a steptowards a cleaner future. To date, we have executed 380 project and corporatetransactions for sustainable energy assets, valued at $83 billion in total. Tolearn more, visit www.crc-ib.com and connect with us on LinkedIn.

Infralogic: Investors eye distributed generation amid US policy uncertainty

March 28, 2025

by Chuck Stanley and Andrew Vitelli

Amid a climate of policy and economic uncertainty for the US renewables sector, investors are increasingly looking to distributed generation for reliable returns, industry experts tell Infralogic.

As the US renewables sector scrambles to forecast the impact of Trump administration trade and economic policies on development costs, and with the looming threat that Congressional Republicans may look to carve out the costs of a major tax cut from renewable energy incentives passed under the Biden administration, investors tell Infralogic distributed generation (DG) looks increasingly attractive.

Experts who spoke to Infralogic noted the short development and construction times, low regulatory burden, distributed portfolios, and high margins of DG and community solar leave the sector well equipped to weather the current policy and economic environment, while riding the tail winds of growing US energy demand.

While no sector is immune from the impacts of changes to tariff and energy incentive policies, Don Dimitrievich, senior managing director for energy infrastructure credit at Nuveen, said the revenue profile of DG gives the sector more flexibility to maneuver in an uncertain environment.

"When we look at this, the combination of profitability of the projects do give you that margin for unpredictability and uncertainty," Dimitrievich said.

Nuveen recently joined Deutsche Bank in the upsize of an existing credit facility for DG solar and battery storage developer Dimension Energy to support pre-construction activities.

Jeremy Eisman, head of infrastructure and energy financing at Deutsche Bank, said DG’s short development and construction timelines fit within the bank’s focus on renewables projects expected to reach the Notice to Proceed (NTP) stage within two years or less.

That focus emerged as a way to navigate a post-COVID surge in component prices, as the task of derisking pipeline assets five years into the future became extraordinarily difficult. In today’s political and economic environment, the strategy continues to make sense, he said.

"What we’ve done in our development finance is try to really focus on the next 18 to 24 months of NTP-able assets. That focus on the near-term pipeline has withstood this political environment better than other methodologies," said Eisman.

Reversal of trends

‍Short development times for DG weren’t always seen as an advantage to investors in the space, said Nick Sangermano, President of DG-focused investor and developer GS Power Partners.

In previous years, when costs for components like solar panels were falling rapidly, the years-long pre-construction process of permitting and interconnection approvals for utility scale projects worked to the advantage of developers. Offtake agreements signed one year would tend to reflect a much higher cost environment than actual conditions by the time construction began.

But now, with uncertainty over the trajectory of component costs, the potential for a haircut to renewable energy credits, and demand projections that have off takers anxious to secure electricity supply, the speed of DG development has become a major advantage.

“It’s flipped now,” said Sangermano. “And DG actually can have a time advantage.”

The preference for rapid deployment of generation assets comes at a time when the DG sector has grown to a size where economies of scale and growing investor interest are also serving as tailwinds, he added.

The diversified nature of DG portfolios also serves to disperse project risk, Dimitrievich said.

“From a credit underwriting perspective, it derisks the overall financing,” Dimitrievich said. “You’re not taking single-project financing risk or regulatory risk that sometimes is the case when you’re doing utility scale solar. It’s a huge positive.”

With strain on energy lines a growing concern in much of the country, Eisman said DG’s low impact on the grid and close proximity to load make it a critical tool for addressing reliability concerns.

“We’re increasingly seeing transmission as something that everyone’s focused on. And one of the best options to manage that issue is DG,” he said. “If you locate generation closer to demand, closer to the load, the stress placed on the transmission system is far lower. That’s one of the reasons we like it.”

The ability for experienced teams to execute quickly on projects at a time when demand is expected to grow rapidly make the DG sector an area of significant focus over the near-term within the renewables sector for Nuveen, Dimitrievich said.

"The combination of risk mitigants allows us to be more willing to commit to this area and have a lot of conviction around it," he said.

Read the full article in Infralogic.

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Dimension Energy Enters Agreement to Sell $128M in Tax Credits from 122 MWdc Community Solar Portfolio

March 27, 2025

Atlanta, GA – Dimension Energy (Dimension), a leading community solar developer, owner, and operator, today announced the close of a $128 million tax credit transfer purchase agreement with a Fortune 500 Company for a portfolio of 30 community solar projects totaling 122 MWdc. Reunion Infrastructure (Reunion) introduced the Fortune 500 buyer to Dimension and facilitated the transaction between the parties.

The projects will provide enough local solar energy to power over 17,000 households across Delaware, Illinois, Maine, New Jersey, New York, Pennsylvania, and Virginia. Dimension previously announced that First Citizens Bank, ING, National Bank of Canada, Comerica, Cadence, Denham, and Siemens provided construction financing for the 30-project portfolio.

“We’re thrilled to have this backing to quickly bring new generating capacity onto the grid and offer a low-cost energy choice to more Americans,” said Patrick Schaufelberger, SVP of Project Finance, Dimension Energy. “These are premier partners for Dimension – we look forward to working together to make clean energy work for everyone.

“Tax credit transferability is a critical component of accelerating the deployment of clean energy projects around the country,” said Billy Lee, Co-Founder and President, Reunion. “We are proud to have supported this transaction and grateful for the opportunity to work with a top tier community solar developer such as Dimension.”

Community solar projects provide power to the nearly 50 percent of individuals who are unable to put solar on their homes or apartments. Dimension’s projects tap into existing infrastructure, generate power where it is needed, and provide low-cost clean electricity to surrounding communities.

“Dimension continues to lead the way in advancing community solar across the U.S.,” said Conor McKenna, CRC-IB Partner & Senior Managing Director. “We’re pleased to support them in navigating the unique complexities of DG solar and positioning their projects for long-term success.”

CRC-IB acted as the exclusive financial advisor to Dimension.

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‍About Dimension Energy‍‍

Dimension Energy is a leading community solar developer, owner, and operator. Dimension has executed more than 600 megawatts (MW) of community solar since its 2018 founding. The company plans to invest over $3 billion over the next 5 years, will have more than 800 MW in pre-construction-to-operations by the end of 2025, and 3.5 GW under development across 13 markets. In the communities where we invest, our projects deliver clean energy, local jobs, tax revenue, and savings, alongside other benefits including workforce development and educational opportunities. Dimension is making clean energy work for everyone. Learn more at www.dimension-energy.com.

‍About Reunion‍

Reunion facilitates the purchase and sale of clean energy tax credits. We have worked with major corporations to acquire over $3.5B in tax credits from solar, wind, storage, advanced manufacturing, and other clean energy projects.

Our team of clean energy finance veterans supports buyers and sellers through each step of the transaction process, with a focus on commercial negotiation, due diligence and risk mitigation. To learn more, visit www.reunioninfra.com and download our comprehensive handbook on clean energy tax credit transfers.

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‍About CRC-IB‍‍

CRC-IB is a full-service investment bank providing industry-leading financial services across the energy transition. We leverage our capital markets and sector technology expertise to provide innovative project finance, capital raising, and M&A solutions, optimizing client outcomes in an ever-shifting energy landscape. Our belief since inception is that every transaction is a catalyst for change, every closing a step towards a cleaner future. To date, we have executed 360 project and corporate transactions for sustainable energy assets, valued at $78 billion in total. To learn more, visit www.crc-ib.com and connect with us on LinkedIn.

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Dimension Energy Upsizes Corporate Credit Facility to $300 Million with Backing from Deutsche Bank and Nuveen Energy Infrastructure Credit

March 18, 2025

Financing will support 3.5 GW community solar development pipeline
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Atlanta, GA – Dimension Energy, a leading community solar and battery storage developer, owner, and operator, today announced the upsize of a Corporate Credit Facility to $300 million. The facility, co-led by Deutsche Bank and Nuveen Energy Infrastructure Credit, upsized from $150 million to a total commitment of $300 million. Deutsche Bank’s Trust and Agency services team is acting as administrative agent and collateral agent for the transaction. The facility will further the deployment of Dimension’s robust 3.5 GW community solar pipeline.

“We’re thrilled to have Nuveen’s partnership and the continued support of Deutsche Bank to bring more low-cost community solar onto the grid as energy demand skyrockets across the country,” said Ryan Liddell, CFO, Dimension Energy. “This expanded facility will finance a significant portion of Dimension’s near-term development and pre-construction activities.”

“We are excited to support Dimension Energy in the expansion of their Corporate Facility in partnership with Nuveen. This represents another important milestone for Dimension in their impressive growth trajectory and we look forward to continuing to support their important mission to provide affordable and accessible load-oriented generation,” said Jeremy Eisman, Head of Infrastructure and Energy Financing, Deutsche Bank.

“Dimension has demonstrated tremendous success in providing access to clean energy to communities across the country,” said Don Dimitrievich, Portfolio Manager of Nuveen’s Energy Infrastructure Credit business. “Community solar is a key focus for our strategy and we are excited to be joining Deutsche Bank in partnering with Dimension, a truly premier developer, owner and operator in the space."

Dimension Energy is actively developing community solar projects in 13 states and is on track to have 800 MW of assets spanning pre-construction to operational by the end of 2025. The company’s continued growth comes on the heels of the U.S. community solar market’s best year yet in 2024.

As the U.S. power grid experiences the largest demand growth since World War II, distributed generation, which has a shorter development timeline and is closer to energy load, is an increasingly important part of the energy mix needed to provide reliable, affordable options to ratepayers.

The initial $150M close of the credit facility, announced in September 2024, was Deutsche Bank’s first pre-NTP investment in community solar in the U.S.

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About Dimension Energy‍

Dimension Energy is a leading community solar developer, owner, and operator. Dimension has executed more than 600 megawatts (MW) of community solar since its 2018 founding. The company plans to invest over $3 billion over the next 5 years, will have more than 800 MW in pre-construction-to-operations by the end of 2025, and 3.5 GW under development across 13 markets. In the communities where we invest, our projects deliver clean energy, local jobs, tax revenue, and savings, alongside other benefits including workforce development and educational opportunities. Dimension is making clean energy work for everyone. Learn more at www.dimension-energy.com.

About Deutsche Bank

The Deutsche Bank Private Credit and Infrastructure business (PCI) is Deutsche Bank’s US-based balance sheet lending platform. PCI provides financing to bank clients including corporates, projects and alternative investment managers using bank capital. PCI has a wide mandate to underwrite loan facilities including corporate, holdco, bridge, term, construction and development loans, as well as letters of credit, with a focus across digital, power and conventional infrastructure, venture debt and fund finance. In the last 8 years PCI has underwritten transactions in excess of $50 billion and currently maintains over $20 billion in balances outstanding. The Deutsche Bank Trust and Agency Services team provides administrative services to project, acquisition, corporate and other financings across the infrastructure and energy markets.

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Dimension Energy Closes Major Financing Package for 122 MWdc Distributed Generation Portfolio

December 11, 2024

$284 Million Investment led by First Citizens Bank and Structured Equity Project JV with HASI will support 30 Community Solar Projects across 7 states

Atlanta, GA – Dimension Energy (Dimension), a leading community solar developer, owner, and operator, announced it has secured a $284 million construction and tax equity bridge loan from First Citizens Bank, acting as lead debt syndicator, alongside ING, National Bank of Canada, Comerica, Cadence, Denham, and Siemens. In addition, Dimension closed on a structured equity investment from HASI, in a new project joint venture (JV).

Together, these financing structures will support the construction of a 122 megawatts DC (MWdc) portfolio of 30 community solar projects that Dimension is developing across Delaware, Illinois, Maine, New Jersey, New York, Pennsylvania, and Virginia. Dimension’s projects will provide enough local solar energy to power over 17,000 households. The portfolio includes Dimension’s first community solar projects in Illinois and Pennsylvania.

“This significant capital investment is a clear sign that the future of community solar is bright,” said Patrick Schaufelberger, SVP Project Finance of Dimension Energy. “We’re excited to close another transaction with our existing banking partners and bring on new partners in HASI, Denham, and Siemens that will allow Dimension to enter new markets and bring affordable energy and good jobs to more Americans in 2025.”

Community solar projects provide power to the 45 percent of individuals who are unable to put solar on their homes or apartments. Dimension’s projects tap into existing infrastructure, generate power where it is needed, and provide low-cost clean electricity to surrounding communities.

“We are pleased to support Dimension Energy, a leader in the community solar sector, by arranging financing support for this portfolio of projects across seven states,” said Mike Lorusso, group head for First Citizens Energy Finance.

"Dimension’s focus on making clean energy projects accessible to everyone completely aligns with our purpose as a climate positive investor,” said Daniela Shapiro, Senior Managing Director of HASI. “We are thrilled to join them in this joint venture, and we look forward to a long and productive partnership.”

Today’s announcement closes out a banner year of project finance news for Dimension Energy. Dimension announced its first corporate level revolving facility in September, with Deutsche Bank’s first ever pre-NTP investment in U.S. community solar. In July, Dimension announced that the company will invest a total of $3 billion over the next five years and will have over 800 MW total in pre-construction-to-operations by end of next year, with 2.8 GW under development across 13 markets.

“This achievement underscores Dimension’s commitment to providing clean energy to local communities across the U.S.,” said Conor McKenna, CRC-IB Partner & Senior Managing Director. “CRC-IB is proud to continue supporting impactful growth in the C&I and community solar sector.”

CRC-IB acted as the exclusive financial advisor to Dimension. Stoel Rives acted as counsel for Dimension and Foley and Lardner acted as counsel for First Citizens Bank and lenders.

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About Dimension Energy‍

Dimension Energy is a leading community solar developer, owner, and operator. Dimension has executed more than 600 megawatts (MW) of community solar since its 2018 founding. The company plans to invest over $3 billion over the next 5 years, will have more than 800 MW in pre-construction-to-operations by the end of 2025, and 2.8 GW under development across 13 markets. In the communities where we invest, our projects deliver clean energy, local jobs, tax revenue, and savings, alongside other benefits including workforce development and educational opportunities. Dimension is making clean energy work for everyone. Learn more at www.dimension-energy.com.

About First Citizens Bank‍

First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh, N.C., First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services including a network of more than 500 branches and offices in 30 states; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; and a nationwide direct bank. Parent company First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $200 billion in assets and a member of the Fortune 500™. Discover more at firstcitizens.com.

About HASI‍

HASI (NYSE: HASI) is a leading climate positive investment firm that actively partners with clients to deploy real assets that facilitate the energy transition. With more than $13 billion in managed assets, our vision is that every investment improves our climate future. For more information, please visit hasi.com.

About CRC-IB‍

CRC-IB is a full-service investment bank providing industry-leading financial services across the energy transition spectrum. We leverage our capital markets and sector technology expertise to provide innovative project finance, capital raising, and M&A solutions, optimizing client outcomes in an ever-shifting sustainable energy landscape. Our belief since inception is that every transaction is a catalyst for change, every closing a step towards a cleaner future. To date, we have executed 340 project and corporate transactions for sustainable energy assets, valued at $69 billion in total. To learn more, visit www.crc-ib.com and connect with us on LinkedIn.

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Dimension Energy Completes Largest Third-Party-Owned Community Solar Project in U.S. in Inyokern, California

December 6, 2024

‍The project will generate $18M in energy savings for residential and commercial subscribers, including renters who have never had access to solar energy before‍

Inyokern, CA – Dimension Energy (Dimension), a leading developer, owner, and operator of community solar projects, has completed construction of the largest third-party-owned community solar project in the United States. Situated in Inyokern, California, this project will produce 44 megawatts (MW) of clean energy, serving a diverse group of residential and commercial customers in Southern California Edison service territory. Among the beneficiaries are over 2,000 households, supportive housing organization the Redwood Family Care Network, municipal facilities in the cities of Long Beach and Corona, and commercial offtakers like AT&T and Crown Castle.

While California continues to struggle to develop a scalable community solar program that can serve residents affordably and effectively, Dimension secured over $100 million in total project capital for the project. The deal, which closed at the end of 2023, includes partners Silicon Valley Bank (SVB), a division of First Citizens Bank, National Bank of Canada, Comerica, and NT Solar.

“Dimension has an unparalleled understanding of community solar markets that allows us to recognize and seize opportunities that other people don’t see,” said Sam Younes, Co-Founder & Chief Development Officer, Dimension Energy. “We turned a struggling utility scale site into the largest community solar project in the country despite tremendous policy hurdles in the state by taking advantage of the niche Green Tariff Enhanced Community Renewables program. Aside from our Inyokern project, this program has been essentially non-functional.”

The project is located on a 130-acre site and its 44MW of community solar will provide access to clean solar generation for thousands of households across Southern California, including in the cities of Corona and Long Beach where partnerships with the municipalities have helped shine a spotlight on the opportunity. In addition, the project will enable AT&T and Crown Castle to realize their renewable energy commitments. Dimension hopes to see future community solar projects replace polluting peaker plants in historically impacted communities and provide even more support for community organizations like the Redwood Family Care Network.

As the largest non-utility owned U.S. community solar project, the Inyokern facility will deliver enough clean energy to eliminate 21,667 metric tons of greenhouse gas emissions annually (the equivalent of annual emissions from more than 4,700 cars) following activation later this year.

“We’re grateful to our industry-leading financial partners for their commitment to community solar and their trust in our ability to execute on this unparalleled project,” said Patrick Schaufelberger, Senior Vice President of Project Finance at Dimension. “Inyokern is a unique project that required thoughtful underwriting that our fantastic partners were able to deliver on.”

“SVB is excited to have led and structured Inyokern, the largest third-party-owned community solar development,” said Sayoji Goli, Managing Director for Silicon Valley Bank. “This landmark project will create a renewable energy source to serve thousands of households and generate significant savings for subscribers. We are excited to continue to support Dimension and their ongoing efforts to expand access to clean energy for residents and businesses.

"This marks the third investment in a Dimension portfolio by NT Solar, and the first investment by NT Solar's NTCIC Renewable Investing Fund. Dimension's commitment to developing solar projects that provide a host of community benefits along with their track record makes them an outstanding partner,” said Karin Berry, Managing Director of NT Solar. “Our joint work aligns with NT Solar's mission to make tax equity investments in projects that provide affordable clean energy access and support the sustainability goals of our investor partners. We look forward to a continued partnership with the Dimension team."

“PowerMarket is proud to have delivered on the promise to Dimension of bringing meaningful and quality subscribers to the largest community solar project in California,” said Jason Kaplan, President of PowerMarket. “We are thrilled to have brought key partners like the City of Long Beach, the City of Corona, and Redwood Family Care Network, ensuring the project’s success and maximizing its positive impact on communities across Southern California. We look forward to continuing to build on our strong relationship with Dimension for years to come.”

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About Dimension Energy‍

Dimension Energy is a leading community solar developer, owner, and operator. Dimension has executed more than 600 megawatts (MW) of community solar and invested $600 million into clean energy assets since its 2018 founding. The company plans to invest over $3 billion over the next 5 years, will have more than 800 MW in pre-construction-to-operations by the end of 2025, and 2.8GW under development across 13 markets. In the communities where we invest, our projects deliver clean energy, local jobs, tax revenue, and savings, alongside other benefits including workforce development and educational opportunities. Dimension is making clean energy work for everyone. Learn more at www.dimension-energy.com.

About Silicon Valley Bank

‍Silicon Valley Bank (SVB), a division of First Citizens Bank, is the bank of some of the world’s most innovative companies and investors. SVB provides commercial and private banking to individuals and companies in the technology, life science and healthcare, private equity, venture capital and premium wine industries. SVB operates in centers of innovation throughout the United States, serving the unique needs of its dynamic clients with deep sector expertise, insights and connections. SVB’s parent company, First Citizens BancShares, Inc. (NASDAQ: FCNCA ), is a top 20 U.S. financial institution with more than $200 billion in assets. First Citizens Bank, Member FDIC. Learn more at svb.com.

About NT Solar‍

NT Solar, a subsidiary of the National Trust Community Investment Corporation, raises and manages renewables investments that create meaningful community impact and cost-effective energy options nationwide. Since its inception in 2012, NT Solar has provided tax credit financing of over $700 million in capital for transactions nationwide, with a focus on the growing Community Solar market. Our varied network of partners and extensive experience in diligence and structuring provide our developers with competitive pricing and stable returns for our investors. Visit www.nt.solar to learn more.

About PowerMarket‍

PowerMarket is a clean energy solutions provider. We provide turn-key acquisition, management, billing and support services to developers, financiers and the incumbent energy industry. Our company is employee owned, mission driven and leverages its software engineering and energy policy expertise to deliver clean, local, affordable power to small businesses and residential customers - including those with low-to-moderate incomes (LMI) - on behalf of our clients. Learn more at powermarket.io.

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Dimension Energy Opens First Ever Community Solar Project in the Central Valley

November 18, 2024

Senator Caballero, Assemblymember Mathis, Assemblymember-elect Macedo, the California Energy Commission, and community leaders joined launch event
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Visalia, CA - On Monday a group of bipartisan California elected officials joined Dimension Energy to celebrate the launch of the first ever community solar project in the Central Valley. Joe Henri of Dimension Energy was joined by Senator Anna Caballero, Assemblymember Devon Mathis, the California Energy Commission’s Raja Ramesh, and Community Organizer Melynda Metheney in front of a solar array located just 10 minutes from downtown Visalia to tout the many benefits of community solar for valley residents.

“Dimension Energy is proud to bring an affordable energy solution to residents of the Central Valley,” said Joe Henri of Dimension Energy. “We hope this is only the beginning. We envision a real, functioning community solar and storage program throughout the state of California that will empower more farmers and landowners to host these facilities, preserving agricultural land within families, while creating jobs and generating clean energy locally.”

The Visalia project is one of three new pilot community solar initiatives in the Central Valley developed by Dimension Energy as part of the state’s Disadvantaged Communities Green Tariff (DAC-GT) program. The other two projects from this pilot program are in Corcoran and Lemoore. The three projects will provide clean solar electricity for over 3,700 low-income valley residents at a 20% discount, saving families an average of $40 per month. Community solar is unique because it brings clean, affordable solar energy to renters who can’t install solar on their homes.

Dimension worked hard to ensure that the benefits of each project were localized by partnering with trusted, community organizations like Proteus and Self Help Enterprises to bring affordable, clean energy to the residents who need it most, and by sponsoring workforce development programs that create opportunities for quality jobs with each project. Per the latest available census data, Tulare County is 50% non-English speaking: A significant portion of residents enrolled were Spanish speakers, and all of Dimension’s community partners were Spanish speaking as well.

The DAC-GT program ended earlier this year, making these pilot community solar projects the first and last of their kind. Ideally the projects will serve as a model to the CPUC as it considers how to deploy $250 million in Solar For All funds allocated by the Environmental Protection Agency this spring. The federal funds provide an opportunity to kick start the creation of an expanded community solar program statewide.

Speakers at the event emphasized the added benefits for families in the Central Valley if the PUC deploys a majority of federal funds this fall to expand community solar across the state.

“This is an exciting and innovative project that will help thousands of Valley families to pay less on their electric bill. But as exciting as this project is, it will help less than 1% of the more than 2.4 million California households who can’t put solar panels on their rooftops because of the cost or because they are renters,” said Senator Anna Caballero. “We need more projects like this to help the state’s millions of renters in need of relief from their high utility bills. California needs to do better. We can do better.”

“California needs more solar projects like these to boost clean energy without the delays of CAISO interconnection queues, minimize reliance on costly transmission infrastructure driving up rates, and expand energy savings through distributed solar,” said Senator Josh Becker (D-Menlo Park). “I hope the PUC will capitalize on the $250 million in Solar For All funds available this year and seize this opportunity to make clean energy more accessible to underserved communities."

“I’m excited to see more community solar projects come online in the Central Valley that will bring more affordable clean energy to the families that need it most,” said Assemblymember Ward (D-San Diego). “My goal with AB 2316 was to expand access to clean energy through community solar projects so renters and others who can’t install solar panels could save money on their monthly utility bills. I look forward to more community solar projects throughout the state to empower families while continuing to move toward our 100% clean energy goal."

“In the Central Valley, Dimension’s three new community solar projects are bringing affordable clean energy to the families that need it most,” said Assemblywoman Elect Alexandra Macedo (R-Tulare).

“California has piloted community solar for a long time without much to show for it,” said Assemblymember Devon Mathis (R-Tulare). “We need to take our learnings from these projects, capitalize on this influx of federal funds, and maximize the benefits of community solar statewide.”

“When I got involved with helping to sign my neighbors up for this project, we were facing really high energy costs and the fuel we used at the time was propane,” said Melynda Metheney, a Central Valley Community Organizer. “We didn’t have very many options until we learned about community solar. Now we all have lower bills and our air is cleaner - it’s a no brainer!"

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Deutsche Bank Makes its first Pre-NTP Investment in Community Solar in the US with Dimension Energy

September 13, 2024

Atlanta, GA – Dimension Energy, a leading community solar and battery storage developer, owner, and operator, today announced the closing of a $150M Corporate Credit Facility with Deutsche Bank.

The facility will provide revolving credit in the form of cash and letters of credit to further the deployment of Dimension’s robust 2 GW+ community solar pipeline.

“Deutsche Bank’s backing of Dimension’s growing community solar development pipeline is a massive achievement for our 6-year-old company,” said Ryan Liddell, CFO, Dimension Energy. “This facility will be key to supporting Dimension’s efforts to invest $3 billion over the next five years by financing a significant portion of our near-term development and pre-construction activities. We appreciate the partnership with Deutsche Bank and the innovative and creative solution they have provided, which will propel our mission of making clean energy work for everyone.”

“Dimension is a premier Independent Power Producer and the company’s proven track record of delivering value to communities and shareholders make it a perfect fit for our inaugural pre-NTP financing in community solar,” said Jeremy Eisman, Head of Infrastructure and Energy Financing at Deutsche Bank. “Deutsche Bank is committed to financing sustainable and climate-friendly solutions and are proud to expand our pre-NTP financing offering to distributed generation with a top tier client in Dimension.”

Community solar projects provide power to the 45 percent of individuals who are unable to put solar on their homes or apartments. Dimension’s projects tap into existing infrastructure, generate power where it is needed, and provide low-cost clean electricity to surrounding communities.

Today’s announcement comes on the heels of Dimension Energy’s July announcement that the company will invest $3 billion over the next five years, with over 500 megawatts of operating community solar assets planned by the end of 2025. Dimension’s planned operating portfolio represents $1.1 billion of invested capital nationwide, with over 200 MW currently under construction in 8 states.

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About Dimension Energy‍

Dimension Energy is a leading community solar developer, owner, and operator. Dimension has executed more than 500 megawatts (MW) of community solar and invested $500 million into clean energy assets since its 2018 founding. The company plans to invest over $3 billion over the next 5 years, with more than 2 gigawatts (GW) under development in 12 states. In the communities where we invest, our projects deliver clean energy, local jobs, tax revenue, and savings, alongside other benefits including workforce development and educational opportunities. Dimension is making clean energy work for everyone. Learn more at www.dimension-energy.com.

About Deutsche Bank‍

The Deutsche Bank Private Credit and Infrastructure business (PCI) is Deutsche Bank’s US-based balance sheet lending platform. PCI provides financing to bank clients including corporates, projects and alternative investment managers using bank capital. PCI has a wide mandate to underwrite loan facilities including corporate, holdco, bridge, term, construction and development loans, as well as letters of credit, with a focus across digital, power and conventional infrastructure, venture debt and fund finance. In the last 8 years PCI has underwritten transactions in excess of $35 billion and currently maintains over $25 billion in balances outstanding.

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Infralogic: Dimension leans on policy chops to grow community solar footprint

Dimension Energy Announces $3B Investment Over Next 5 Years; 500MW of Operating Community Solar Assets and $1.1B Invested by End of 2025

July 16, 2024

Atlanta, GA – Dimension Energy, a leading community solar and battery storage developer, owner, and operator, today announced that the company will invest $3 billion over the next five years, with over 500 megawatts (MW) of operating community solar assets planned by the end of 2025. Dimension’s planned operating portfolio represents $1.1 billion of invested capital nationwide, with 169 MW currently under construction in 8 states.
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Dimension was founded in 2018 and expanded to become a one-stop developer, owner, and operator in 2021 with the backing of global private markets firm Partners Group. Today’s news solidifies the company’s leadership trajectory to be one of the largest community solar providers in the U.S.

“With a proven track record of delivering value to the communities and shareholders we serve and billions of dollars in planned investments, Dimension has emerged over the past six years as a premier clean energy leader positioned to control significant share in the growing community-scale clean energy market,” said Rafael Dobrzynski, Co-Founder and CEO of Dimension. “From energizing the first ever shared solar projects in Virginia to shaping policy that ensures robust markets in states such as Virginia, New Jersey, and California, Dimension Energy is making clean energy work for everyone from coast to coast.”

Alongside today’s announcement, Dimension Energy is introducing refreshed branding and launched a brand-new website. The changes reflect the evolution of the company’s DNA and operational scope as an emergent and established clean power producer that builds, owns, and operates community-scale clean energy projects across the U.S. The updated brand includes a transition from the firm’s former operating name, Dimension Renewable Energy.

Dimension enlisted award-winning creative agency VSA Partners to design the company’s new website and branding. The website highlights Dimension’s proactive, community-first approach to clean energy development with a focus on their portfolios and engagement in California, New Jersey, New York, and Virginia.

“Dimension Energy is doing things differently than the rest of the sector, and their brand needed to reflect that. Making clean energy work for everyone isn’t philanthropy—it’s best business practice. Their new, bold brand is full of that kind of drive and pragmatism, and we’re very excited to see where Dimension Energy goes from here,” said Jerry Stiedaman, Associate Partner of Client Engagement at VSA.

Dimension has grown to nearly 100 employees across offices in Atlanta, New York City, and Walnut Creek, CA, since its founding in 2018.

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About Dimension Energy

Dimension Energy is a leading community solar developer, owner, and operator. Dimension has executed more than 450 megawatts (MW) of community solar and invested $400 million into clean energy assets since its 2018 founding. The company plans to invest over $3 billion over the next 5 years, with more than 2 gigawatts (GW) under development in 12 states. In the communities where we invest, our projects deliver clean energy, local jobs, tax revenue, and savings, alongside other benefits including workforce development and educational opportunities. Dimension is making clean energy work for everyone. Learn more at www.dimension-energy.com.

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Richmond Times-Dispatch: Virginia's first shared solar facilities come online

Virginia’s First Ever Shared Solar Projects Turn On, Will Save Customers $50 Million, Power 10,000 Homes

April 26, 2024

Dimension Renewable Energy is investing $150 million in Virginia shared solar

‍Richmond, VA – As of today, the first five shared solar projects in Virginia history are operating and providing low-cost clean energy to thousands of low-income customers across the state.

The five projects are part of Dimension Renewable Energy’s $150 million in capital expenditures in Virginia, where nearly 10,000 low-income households will soon benefit from over $50 million in energy bill savings. Today’s news marks the first time that renters and other Virginians who cannot put solar on their roofs can access affordable solar energy in the state.

“Our clean energy future is now; Dimension is thrilled to be making clean, affordable, solar energy available to the Virginians who need it most,” said Bryan Bentrott, VP of Origination, Dimension Renewable Energy. “Thanks to recent action from Governor Youngkin and shared solar leaders in the Senate and House of Delegates, today’s news is only the beginning – we look forward to working together to expand shared solar access to more and more Virginians.”

As of today, the following shared solar projects are up and running in Virginia:

      • Prince Edward CSG, 5.1 MW of capacity in Prince Edward County
      • Waynesboro Bridge Solar, 6.7 MW of capacity in Augusta County
      • Augusta CSG, 3.8 MW of capacity in Augusta County
      • Suffolk CSG, 5.2 MW of capacity in Suffolk County
      • White Stone Ocran Solar, 6.6 MW of capacity in Lancaster County

By the end of June, an additional 6.6 MW project in Rockbridge County and a 4.1 MW project in Halifax County will also be operational. These seven projects make up Dimension Renewable Energy’s first phase of their 65 MW total shared solar portfolio in Virginia. The first seven projects will provide clean energy to about 6,000 households and Dimension’s total portfolio will power close to 10,000 households and create hundreds of good jobs across the state.

“My colleagues and I have been diligently committed to developing a robust shared solar program in Virginia since 2020,” said Majority Leader Scott Surovell. “We’re thrilled that the legislation has been signed by the Governor just as the first projects are starting to come on line. I’m optimistic that the latest legislation will make shared solar a reality for the entire commonwealth. Thank you to all of the stakeholders who worked tirelessly to ensure this legislation is sustainable and in the best interest of Virginians.”

“Virginia is facing a question of how to prioritize renewable energy, lower costs for ratepayers, and balance the use of our valuable land,” said Delegate Rip Sullivan. “Thankfully, shared solar offers a solution to all three. Programs like shared solar have a direct positive impact on ratepayers and offer modern solutions to energy distribution. I’m proud to have worked to make shared solar more viable in our Commonwealth, and I’m committed to bringing cost savings to thousands more Virginians.”

100% of Dimension’s Virginia project customers qualify as low-income and many of the first subscribers live in affordable housing. Community Housing Partners (CHP), a Virginia affordable housing provider, has partnered with Dimension to offer an exclusive shared solar subscription to their residents. Close to 1,000 CHP residents have enrolled to-date.

Virginia’s Shared Solar Program is part of the Virginia Clean Economy Act that passed in 2020. Virginia Governor Glenn Youngkin recently signed four bipartisan bills that will expand the shared solar program by 200 MW.‍

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About Dimension Renewable Energy

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Dimension is a leading developer and operator of community solar solutions. For the communities in which we invest, our fleet of solar projects delivers clean energy, local jobs, tax revenue, and savings, alongside other benefits including workforce development and educational opportunities. We are a turnkey provider of these solutions: from site acquisition and development, to construction and operation, we are a steady and reliable presence in our communities.

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Dimension Energy Commits $5M to Develop 1,500 Solar Professionals

State Leaders Join Dimension Energy to Celebrate Virginia’s First Shared Solar Projects

November 20, 2023

WAYNESBORO, Va. –– Today Dimension Renewable Energy (Dimension) will be joined by leading elected officials, state regulators, and industry partners to celebrate one of the state’s first shared solar facilities––a 5 megawatt (MW) project in Waynesboro, Virginia that will bring low-cost clean energy to 1,200 nearby low-income households.

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The project, called Waynesboro Bridge Solar, is one of 12 solar facilities developed, owned, and operated by Dimension that will be first to go live under the state’s shared solar program. The portfolio will be subscribed to by nearly 10,000 low-income households and generate over $20 million in savings for those subscribers.

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Unlike utility scale or rooftop solar, shared solar, or community solar, allows renters, small businesses, and homeowners who lack adequate roof space or cannot afford their own solar panels to subscribe to the shared solar facility, and lower their electric bills.

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“As a result of years of hard work getting Virginia’s shared solar program off the ground, Virginians will now be able to take control of their electric bill and participate in the clean energy economy without having to buy their own solar panels or own a home,” said Bryan Bentrott, Vice President of Origination at Dimension.

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Dimension’s Waynesboro Bridge project will provide reduced-cost clean energy to nearby Virginians, including residents of Community Housing Partners (CHP) properties in Dominion Energy’s service territory. CHP is an affordable housing provider that partners with Dimension to offer “CHP Solar Savings,” a shared solar subscription available exclusively to their residents.

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“Subscribers to the Waynesboro Bridge Solar project can expect a guaranteed monthly savings of 10 percent,” said Angie Roberts-Dobbins, Vice President of Resident Services at CHP. “Multiply that savings by the total number of subscribers the site can serve over its lifetime, and that translates to $2.8 million that can be turned back into the local economy.”

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Shared solar is available to all customers, residential and commercial, in Dominion Energy service territory; however, program participation is capped at 150 MW and is further limited by extra on-bill charges assessed specifically on subscribers by Dominion Energy. Customers of Appalachian Power currently do not have access to a shared solar program. In last year’s legislative session, efforts to expand the Dominion program and create a program in Appalachian Power territory stalled in the House of Delegates due to utility opposition after passing the state Senate.

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“Shared Solar is launching with the completion of these projects and the thousands of households they will serve, but we need legislative action to bring Shared Solar to more Virginians. We are ready to build on bipartisan support to make Shared Solar broadly available across the Commonwealth,” said Charlie Coggeshall, Mid-Atlantic regional director of CCSA. “An expanded program can bring billions of dollars in benefits from avoiding utility infrastructure build out that benefits all utility customers. CCSA is looking forward to the next legislative session where we will be quantifying these benefits and supporting new legislation to bring those benefits to fruition.”

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In addition to delivering monthly savings for subscribers, the Waynesboro Bridge Solar project has created over 40 new local jobs for contractors, electricians, engineers, surveyors, and maintenance crews. It is also contributing over $550,000 in real estate tax revenue for Augusta County.

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About Dimension Renewable Energy

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Dimension is a leading developer and operator of community solar solutions. For the communities in which we invest, our fleet of solar projects delivers clean energy, local jobs, tax revenue, and savings, alongside other benefits including workforce development and educational opportunities. We are a turnkey provider of these solutions: from site acquisition and development, to construction and operation, we are a steady and reliable presence in our communities.

Washington Post: Half of Americans can’t install solar panels. Here’s how they can plug into the sun.

Dimension Energy Closes $237M in Financing to Support Construction of 120 MWdc Distributed Generation Portfolio

September 11, 2023