Dimension Renewable Energy secures US$237 million for 120MWdc community solar projects

Facebook
Twitter
LinkedIn
Reddit
Email
Dimension Renewable Energy will use the fund to support 28 community solar projects. Image: Dimension Renewable Energy

US community solar project developer Dimension Renewable Energy has announced the closing of a US$237 million financing, which will support a 120MWdc distributed generation portfolio.

The portfolio consists of 28 solar projects located across New York State, New Jersey, Virginia, and California, with over half of the portfolio dedicated to serving low-and-moderate income households.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

“Our strong capital position demonstrates Dimension’s leadership in building the country’s leading community solar independent power producer, as we lead the way in making the benefits of solar energy accessible to all,” said Rafael Dobrzynski, co-founder and CEO of Dimension.

Silicon Valley Bank acted as lead debt syndicator, with NT Solar and Advantage Capital arranging the tax equity.

“Silicon Valley Bank is excited to support Dimension as they help to make clean energy affordable, accessible, equitable and flexible for residents and businesses,” said Bret Turner, head of project finance business development and innovation for Silicon Valley Bank.

Previously, PV Tech Premium examined the future of community solar in the US and how the Inflation Reduction Act (IRA) can help the sector. Leslie Elder, vice president of political and regulatory affairs at Summit Ridge Energy, said the act could change how the companies approached the project for the better.

“We are eagerly awaiting the final guidance for many of the provisions in the IRA, including domestic content, before we can properly evaluate de-risking opportunities available for our investments,” said Elder.

Our publisher Solar Media is hosting the 10th Solar and Storage Finance USA conference, 7-8 November 2023 at the New Yorker Hotel, New York. Topics ranging from the Inflation Reduction Act to optimising asset revenues, the financing landscape in 2023 and much more will be discussed. See the official site for more details.   
8 October 2024
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 8-9 October 2024 is our second PV CellTech conference dedicated to the U.S. manufacturing sector. The event in 2023 was a sell out success and 2024 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.
22 October 2024
New York, USA
Returning for its 11th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.

Read Next

June 17, 2024
The California Independent System Operator (CAISO) has taken control of a 500kV, 125-mile transmission line between California and Arizona.
June 7, 2024
Community solar has expanded access to solar adoption to communities struggling to adopt rooftop PV, according to research from the Lawrence Berkeley Lab (LBL) and the National Renewable Energy Lab (NREL).
June 3, 2024
Korean-owned solar manufacturer Qcells has commissioned a 50MW/200MWh solar-plus-storage project in California.
May 24, 2024
US independent power producer Pivot Energy and electric vehicle (EV) manufacturer Rivian have partnered to build 60MW of community solar in Illinois, US.
Premium
May 23, 2024
How VPPs could help reduce solar PV curtailment in California, while also helping financially to install a solar array and storage.
May 21, 2024
US renewable energy company RWE Clean Energy has acquired 400MW of Solar PV and 199MW of standalone battery energy storage system (BESS) assets from Galehead Development.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
July 2, 2024
Athens, Greece
Solar Media Events
July 9, 2024
Sands Expo and Convention Centre, Singapore
Solar Media Events
September 24, 2024
Warsaw, Poland
Solar Media Events
September 24, 2024
Singapore, Asia