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Dimension Energy Secures $857 Million to Expand Distributed Solar Platform

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Dimension Energy has secured $857 million in additional financing to accelerate the expansion of its US distributed solar portfolio, the company said on Tuesday.

The distributed energy developer said that the financing includes a $200 million increase to its corporate credit facility, taking the total facility to $650 million, as well as a $657 million package of construction-to-term debt and tax equity.

The $657 million financing will support 29 distributed solar projects totaling 149 megawatts across Illinois, New Jersey, New York, Pennsylvania and Virginia.

The financing comes after Dimension closed a $650 million portfolio financing earlier this year, strengthening its ability to move projects from development into construction.

The company currently owns over 600 MW of distributed energy assets that are operating or under construction. It said the latest financing will help it reach 1 gigawatt of operating assets by 2028.

Dimension Energy has developed over 1 GW of distributed energy assets and invested over $2 billion across its portfolio.

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