Sectors
Foley & Lardner LLP advised the lending group in connection with Dimension Energy’s $657 million financing package to support the continued growth of its distributed energy platform.
The financing included a $657 million construction-to-term debt and tax equity financing package. The project financing will support a portfolio of 29 distributed solar projects totaling 149 MW across Illinois, New Jersey, New York, Pennsylvania, and Virginia.
The project financing included a tax equity investor, while MUFG, First Citizens Bank, ING Capital, and National Bank of Canada served as Coordinating Lead Arrangers and Fifth Third Bank acted as Joint Lead Arranger.
The transaction builds on Foley’s longstanding work with the lender group and follows Dimension Energy’s previously announced $650 million portfolio financing earlier this year. Dimension currently owns more than 600 MW of distributed energy assets operating and under construction and these financings are expected to support the company’s growth to 1 GW of operating assets by 2028.
Foley’s energy finance team was led by partner Natalie Neals and senior counsel Sunita Paknikar and included partners Jason Barglow and Sarah Slack, senior counsel Justus Britt, of counsel Scott Johnson, and associates Amelia Dahl, Matt Gullickson, and Katie Plachta.
