Dimension Energy Enters Agreement to Sell $128M in Tax Credits from 122 MWdc Community Solar Portfolio

Dimension Energy (Dimension), a leading community solar developer, owner, and operator, announced the close of a $128 million tax credit transfer purchase agreement with a Fortune 500 Company for a portfolio of 30 community solar projects totaling 122 MWdc. Reunion Infrastructure (Reunion) introduced the Fortune 500 buyer to Dimension and facilitated the transaction between the parties.

The projects will provide enough local solar energy to power over 17,000 households across Delaware, Illinois, Maine, New Jersey, New York, Pennsylvania, and Virginia. Dimension previously announced that First Citizens Bank, ING, National Bank of Canada, Comerica, Cadence, Denham, and Siemens provided construction financing for the 30-project portfolio.

“We’re thrilled to have this backing to quickly bring new generating capacity onto the grid and offer a low-cost energy choice to more Americans,” said Patrick Schaufelberger, SVP of Project Finance, Dimension Energy. “These are premier partners for Dimension – we look forward to working together to make clean energy work for everyone.”

“Tax credit transferability is a critical component of accelerating the deployment of clean energy projects around the country,” said Billy Lee, Co-Founder and President, Reunion. “We are proud to have supported this transaction and grateful for the opportunity to work with a top tier community solar developer such as Dimension.”

Community solar projects provide power to the nearly 50 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.

“Dimension continues to lead the way in advancing community solar across the U.S.,” said Conor McKenna, CRC-IB Partner & Senior Managing Director. “We’re pleased to support them in navigating the unique complexities of DG solar and positioning their projects for long-term success.”

CRC-IB acted as the exclusive financial advisor to Dimension. 

Dimension Energy | www.dimension-energy.com

Reunion | www.reunioninfra.com 

CRC-IB | www.crc-ib.com