Dimension Energy (Dimension), a leading developer, owner, and operator of community solar projects in the United States, has announced the successful closure of its largest-ever construction and term financing worth $412 million. The financing will support a new 134 MWdc portfolio of community solar projects across six states — Illinois, Maine, New Jersey, New York, Pennsylvania, and Virginia. Once completed, these projects are expected to help subscribers save at least 10% on their electricity bills, providing relief at a time when national energy prices continue to rise.
MUFG served as the lead debt syndicator for the transaction, joined by First Citizens, ING, National Bank of Canada, Cadence, and Siemens. Advantage Capital contributed $176 million in tax equity financing, underscoring strong investor confidence in Dimension’s expanding clean energy portfolio. Rafael Dobrzynski, Co-Founder and CEO of Dimension, expressed his enthusiasm about the financing milestone, stating, “We’re thrilled to have MUFG lead their first Dimension financing, alongside our longstanding partners First Citizens Bank and Advantage Capital, as well as ING, National Bank of Canada, Cadence, and Siemens. Investors clearly see increasing value in community solar amid the energy demand crisis.”
Fred Zelaya, Managing Director of Project Finance at MUFG, emphasized the importance of the partnership and the role of distributed generation, noting, “MUFG is pleased to have acted as a coordinating lead arranger 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 reducing carbon emissions and enabling wider community participation. We look forward to continuing to support Dimension’s ambitious growth in the industry.”
Adam Constantinides, Senior Vice President at Advantage Capital, added, “We’re pleased to partner with Dimension on another community solar portfolio. This transaction underscores our commitment to advancing the energy transition while delivering lasting community impact.”
Neha Mahajan, Director at CRC-IB, also highlighted the broader significance of the deal, stating, “This milestone highlights the power and real-world impact of community solar. We value our long-standing partnership with Dimension and are proud to support their growth with innovative structured finance solutions that expand access to clean, affordable energy.” CRC-IB acted as the exclusive financial advisor to Dimension for this transaction. The successful financing marks a major step in Dimension Energy’s mission to expand clean energy access nationwide and strengthen the role of community solar in the U.S. renewable energy landscape.
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