Dimension Energy arranges funds for 2-GW US community solar pipeline

US community solar and battery storage developer Dimension Energy has secured a USD-150-million (EUR 134.8m) corporate credit facility to advance its community solar pipeline of more than 2 GW under development across 12 states.

The facility was arranged with Deutsche Bank AG (ETR:DBK) and will provide revolving credit in the form of cash and letters of credit, Dimension said in a recent press statement.

“This facility will be key to supporting Dimension’s efforts to invest USD 3 billion over the next five years by financing a significant portion of our near-term development and pre-construction activities,” said CFO Ryan Liddell.

The billions-worth investment plan was announced in the middle of July with a commitment to commissioning more than 500 MW of operating community solar assets by the end of 2025. The company’s planned operating portfolio represents USD 1.1 billion of invested capital, with 169 MW currently under construction in eight states.

The Atlanta, Georgia-based firm, formerly known as Dimension Renewable Energy, was founded in 2018. It is a portfolio company of global private markets firm Partners Group.

(USD 1 = EUR 0.899)

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