US distributed energy developer Dimension Energy has secured US$857 million in additional capital to expand its distributed solar platform, including financing for 149MW across 29 projects in five states.
The financing comprises a US$200 million increase to Dimension’s corporate credit facility, bringing its total to US$650 million, and a US$657 million construction-to-term debt and tax equity package.
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Investment firm Nuveen Energy Infrastructure Credit and funds and accounts managed by HPS Investment Partners are the lead lenders.
The US$657 million project financing will support 29 distributed solar projects across the US states of Illinois, New Jersey, New York, Pennsylvania and Virginia.
“Dimension has built a distributed solar platform with the execution discipline and portfolio quality that gives us confidence to scale alongside them,” said Don Dimitrievich, global head of Nuveen Energy Infrastructure Credit.
“With power demand accelerating and transmission and distribution costs rising alongside generation costs, distributed solar is well positioned to deliver reliable power closer to load. Upsizing our commitment reflects Nuveen Energy Infrastructure Credit’s continued conviction and confidence in Dimension’s ability to execute at scale, and we’re excited to keep supporting their growth given the market opportunity.”
Advantage Capital is providing the tax equity, while MUFG Bank, First Citizens Bank, ING Capital and National Bank of Canada acted as coordinating lead arrangers. Fifth Third Bank was joint lead arranger.
The new financing follows a US$650 million portfolio financing secured by Dimension earlier this year. Dimension said the additional corporate capital will provide flexibility to advance projects through development and into construction, while the project financing will fund construction of the 149MW portfolio.
Dimension currently owns more than 600MW of distributed energy assets that are operating or under construction. It is targeting 1GW of operating assets by 2028.
Last year, the company completed several financings to support its community solar growth. In October 2025, it secured US$412 million for a 134MW portfolio across six eastern US states, following US$360 million in June for a 112MW portfolio across six states. The US$360 million financing supported 28 projects across Delaware, Illinois, Maine, New Jersey, Pennsylvania and Virginia.
In March, Dimension upsized its corporate credit facility to US$300 million from US$150 million, supporting a 3.5GW community solar development pipeline. Deutsche Bank and Nuveen Energy Infrastructure Credit co-led the increase, following the initial close in September 2024.
