January 2025
Deutsche Bank supports Dimension Energy on its US$150m corporate credit facility for community solar
In September 2024, Dimension Energy, a US community solar and battery storage developer, owner, and operator, announced the closing of a US$150m corporate credit facility with Deutsche Bank Infrastructure and Energy.1
Deutsche Bank Trust and Agency Services (TAS) has been selected as administrative agent and collateral agent on this project financing for Dimension Energy LLC. The facility will provide revolving credit in the form of cash and letters of credit to further the deployment of Dimension’s 2 gigawatt (GW) community solar pipeline.
The facility was agreed shortly after Dimension Energy had made public that the company will invest US$3bn over the next five years. Announced in July 2024, Dimension regards this growth plan as solidifying “the company’s leadership trajectory to be one of the largest community solar providers in the US”.2 By the end of 2025, the company will have more than 800 megawatts (MW) in pre-construction-to-operations assets and 2.8 GW under development across 14 states by the end of 2025.
Investment in communities
Community solar projects can provide power to almost 50% of individuals who are unable to put solar on their homes or apartments.3 Dimension’s projects tap into existing infrastructure, generate power where it is needed, and provide low-cost clean electricity to surrounding communities.
“We appreciate the partnership with Deutsche Bank and the innovative and creative solution they have provided”
Ryan Liddell, CFO, Dimension Energy, noted, “This facility will be key to supporting Dimension’s efforts to invest US$3bn 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 perfect fit for our inaugural pre-NTP financing in community solar”
The transaction is the first ever development-stage financing (pre-notice to proceed, pre-NTP) for Deutsche Bank in community solar, explained Jeremy Eisman, Head of Infrastructure and Energy Financing at Deutsche Bank, “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. 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.” Brian Studdert, Head of Trust & Agency Services, Americas, Deutsche Bank added, “We are pleased that Dimension Energy has chosen our team to provide a full suite of project finance agency services on this transaction, and, alongside the Deutsche Bank Infrastructure & Energy team, we look forward to supporting Dimension Energy’s laudable commitment to community solar.”
About Dimension Energy
Dimension Energy is a community solar developer, owner, and operator operating in 12 states across the US Dimension has executed more than 600MW of community solar since its 2018 founding. The company is headquartered in Atlanta where the company invests in projects that deliver clean energy, local jobs, tax revenues and savings back to the communities. Additional benefits from the projects include workforce development and educational opportunities.
Further information is available at www.dimension-energy.com.