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$150 million Corporate Credit Facility will help finance 2 GW+ community solar development pipeline
ATLANTA, GA, UNITED STATES, September 13, 2024 /EINPresswire / -- Dimension Energy, a leading community solar and battery storage developer, owner, and operator, today announced the closing of a $150M Corporate Credit Facility with Deutsche Bank.
The facility will provide revolving credit in the form of cash and letters of credit to further the deployment of Dimension's robust 2 GW+ community solar pipeline.
“Deutsche Bank's backing of Dimension's growing community solar development pipeline is a massive achievement for our 6-year-old company,” said Ryan Liddell, CFO, Dimension Energy.“This facility will be key to supporting Dimension's efforts to invest $3 billion over the next five years by financing a significant portion of our near-term development and pre-construction activities. We appreciate the partnership with Deutsche Bank and the innovative and creative solution they have provided, which will propel our mission of making clean energy work for everyone.”
“Dimension is a premier Independent Power Producer and the company's proven track record of delivering value to communities and shareholders make it a perfect fit for our inaugural pre-NTP financing in community solar,” said Jeremy Eisman, Head of Infrastructure and Energy Financing at Deutsche Bank.“Deutsche Bank is committed to financing sustainable and climate-friendly solutions and are proud to expand our pre-NTP financing offering to distributed generation with a top tier client in Dimension.”
Community solar projects provide power to the 45 percent of individuals who are unable to put solar on their homes or apartments. Dimension's projects tap into existing infrastructure, generate power where it is needed, and provide low-cost clean electricity to surrounding communities.
Today's announcement comes on the heels of Dimension Energy's July announcement that the company will invest $3 billion over the next five years, with over 500 megawatts of operating community solar assets planned by the end of 2025. Dimension's planned operating portfolio represents $1.1 billion of invested capital nationwide, with over 200 MW currently under construction in 8 states.
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About Dimension Energy
Dimension Energy is a leading community solar developer, owner, and operator. Dimension has executed more than 500 megawatts (MW) of community solar and invested $500 million into clean energy assets since its 2018 founding. The company plans to invest over $3 billion over the next 5 years, with more than 2 gigawatts (GW) under development in 12 states. In the communities where we invest, our projects deliver clean energy, local jobs, tax revenue, and savings, alongside other benefits including workforce development and educational opportunities. Dimension is making clean energy work for everyone. Learn more at .
About Deutsche Bank
The Deutsche Bank Private Credit and Infrastructure business (PCI) is Deutsche Bank's US-based balance sheet lending platform. PCI provides financing to bank clients including corporates, projects and alternative investment managers using bank capital. PCI has a wide mandate to underwrite loan facilities including corporate, holdco, bridge, term, construction and development loans, as well as letters of credit, with a focus across digital, power and conventional infrastructure, venture debt and fund finance. In the last 8 years PCI has underwritten transactions in excess of $35 billion and currently maintains over $25 billion in balances outstanding.
Emily Samsel
Dimension Energy
+1 828-713-9647
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.