Investor Partners Group obtains area solar and storage space developer Dimension

• Investment firm Partners Group has agreed to obtain a regulating risk in Dimension Renewable Energy, a US-based distributed energy platform concentrated on neighborhood solar as well as battery storage space.

The deal comes 3 years after Dimension was founded and will see Switzerland-headquartered Partners Group sustain the company in growing its portfolio as well as going into new markets, as it intends to end up being a greater than US$ 1 billion platform.

With a focus on developing, financing and operating neighborhood solar and battery storage centers throughout the US, Dimension has actually expanded a pipeline of greater than 180 projects in eight states with a consolidated solar capability of over 800MW along with 800MWh of battery storage.

Early last year, Dimension secured an offer to develop a 300MW/ 1,200 MWh portfolio of utility-scale battery energy storage projects in New York State along with Ares Infrastructure as well as Power.

Partners Group stated that neighborhood solar benefits from several fads driving the low-carbon change, consisting of the boosting ecological consciousness of consumers as well as a regulatory landscape helping with the decentralisation of the power industry to enhance integrity.

"The highly fragmented nature of the neighborhood solar market in the United States, in addition to Partners Group's extensive experience structure platform assets, permits substantial possibility to contribute to Dimension's organic pipe via project-level M&A," stated Todd Bright, companion, head of private infrastructure Americas, Partners Group.

Current developments in the United States distributed solar space have seen EDP Renewables purchase a majority stake in C2 Omega, the distributed solar platform of renewables investor C2 Energy Capital, as well as utility Xcel Energy reveal an aspiration to create 1.3 GW of dispersed PV in Colorado by 2030.

As of Q1 2021, the United States had 3.1 GW of mounted community solar and also is anticipated to release a more 4GW of ability in the following 5 years, according to the Solar Energy Industries Association, which states greater than 40 states currently have at the very least one neighborhood PV project online.

Earlier this year, US community solar service provider Nexamp shut a credit score center for a 380MW portfolio of PV and also energy storage space possessions, while utility AES Corporation safeguarded a center to fund the growth of an area solar project portfolio totalling 215MWdc of ability throughout Illinois, New York City and also Massachusetts.