Partners Group's Dimension bags debt for 120-MWp DG solar portfolio
Community solar project in Cortlandt, New York. Image by: Dimension Renewable Energy
US solar project developer Dimension Renewable Energy has secured tax equity and USD 237 million (EUR 220.8m) in debt financing to bankroll the construction of a 120-MW DC portfolio of distributed generation projects.
The funding deal was sealed with Silicon Valley Bank (SVB), a division of First Citizens Bank. NT Solar and Advantage Capital arranged the tax equity component for the projects, Dimension Renewable Energy said on Monday.
The portfolio that will benefit from the fresh capital consists of 28 photovoltaic (PV) schemes across New York, New Jersey, Virginia, and California. Once commissioned, the plants are expected to generate electricity to supply more than 12,000 residential and commercial customers. More than half of the assets will be serving low-and-moderate income households.
Atlanta-based Dimension Renewable Energy is a portfolio company of global private markets firm Partners Group.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.