First Citizens Bank, Mitsubishi UFJ Financial Group, Inc., 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.
“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.”
The value proposition of community solar continues to grow as US 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.
“Dimension Energy is a leader in delivering clean power through their community solar projects across the US,” 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.”
“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.”
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 US markets.
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.
