Foley Advises MUFG in First Financing with Dimension Energy

Foley & Lardner LLP advised MUFG Bank Ltd. in its capacity as lead debt syndicator for Dimension Energy’s $412 million community solar project financing package that will support a new 134 MWdc portfolio of 25 community solar projects in Illinois, Maine, New Jersey, New York, Pennsylvania, and Virginia. This is Dimension’s largest construction and term financing to date. The portfolio is anticipated to save subscribers at least 10% on energy bills at a time of increasing national electricity prices.

Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with approximately 2,000 locations in more than 40 countries. Dimension is a leading community solar developer, owner, and operator. MUFG looks forward to continuing to support Dimension’s growth in the industry as distributed power generation — and community solar in particular — is a growing segment of the renewable energy market that plays a vital role in reducing carbon emissions.

The Foley energy finance team was led by partner Darin Lowder and senior counsel Sunita Paknikar with support from partners Jason Barglow and Sarah Slack, of counsel Thomas Mullooly, special counsel Olya Petukhova, and associates Christopher Duda, Calkie Fisseha, Rikaela Greane, Judah Lieblich, and Sophia Pfander.