Partners Group to acquire US community solar and battery storage platform, Dimension Renewable Energy
Press release
Denver, CO, USA; 28 June 2021
- Dimension is a leading distributed energy platform with a focus on the high-growth community solar and battery storage sector
- The Company is expected to grow to more than USD 1 billion and become one of the largest community solar operators in the US
- The acquisition reflects Partners Group's focus on decarbonization as a major investment theme across private markets globally
Partners Group, a leading global private markets firm, has, on behalf of its clients, agreed to acquire a controlling equity stake in Dimension Renewable Energy ("Dimension" or "the Company"), a leading distributed energy platform focusing on community solar and battery storage across the US.
Dimension is focused on originating, developing, financing and operating community solar and battery storage facilities across the US and has developed a deep pipeline of over 180 projects totaling over 800 MWs of solar capacity, and over 800 MWhs of battery storage across eight states. Dimension's projects will serve residential, commercial, and industrial subscribers from the local community where the projects are located. Partners Group will work closely with co-founders Rafael Dobrzynski and Sam Youneszadeh to grow Dimension into a more than USD 1 billion platform and one of the largest community solar operators in the US.
Community solar benefits from several transformative trends driving the low-carbon transition, including the increasing environmental consciousness of consumers, a regulatory landscape facilitating the decentralization of the power sector to improve reliability, and broadening access to the benefits of renewable energy to historically underserved consumers and households.
Todd Bright, Partner, Head Private Infrastructure Americas, Partners Group, says: "Dimension represents an excellent fit for our transformational investing strategy given the scope to grow the platform into a leading independent power producer that will build, own and operate solar projects, capturing the benefits of scale in the distributed generation space. The highly fragmented nature of the community solar market in the US, as well as Partners Group's extensive experience building platform assets, allows for significant potential to add to Dimension's organic pipeline through project-level M&A."
Rafael Dobrzynski, Co-Founder, Chief Executive Officer, Dimension Renewable Energy, comments: "Dimension is on a strong growth trajectory and we recognize that there is an even greater market opportunity to create an integrated developer, owner and operator of community solar projects in the US. We believe Partners Group's focus on transformational investing, as well as the firm's proven track record in renewable energy, significant resources, and operational expertise, make the firm the right partner for us as we expand the platform."
Patrick Langan, Member of Management, Private Infrastructure Americas, Partners Group, adds: "Community solar is contributing to the low-carbon transition in the US, and Dimension creates broad, positive stakeholder impact by expanding access to clean, affordable energy for local residents and small businesses. We will work closely with Rafael, Sam, and the rest of the management team, to implement the value creation plan at Dimension, including growing the operating asset portfolio, expanding the team, and entering new community solar and battery storage markets."
Since inception, Partners Group has invested in 20 energy transition assets globally, representing USD 23 billion in enterprise value.
About Partners Group
Partners Group is a leading global private markets firm. Since 1996, the firm has invested over USD 145 billion in private equity, private real estate, private debt and private infrastructure on behalf of its clients globally. Partners Group seeks to generate strong returns through capitalizing on thematic growth trends and transforming attractive businesses and assets into market leaders. The firm is a committed, responsible investor and aims to create sustainable returns with lasting, positive impact for all its stakeholders. With over USD 109 billion in assets under management as of 31 December 2020, Partners Group provides an innovative range of bespoke client solutions to institutional investors, sovereign wealth funds, family offices and private individuals globally. The firm employs more than 1,500 diverse professionals across 20 offices worldwide and has regional headquarters in Baar-Zug, Switzerland; Denver, USA; and Singapore. It has been listed on the SIX Swiss Exchange since 2006 (symbol: PGHN). For more information, please visit www.partnersgroup.com or follow us on LinkedIn or Twitter.
About Dimension Renewable Energy
Dimension Renewable Energy is a leader in community solar and is at the vanguard of market development. Dimension takes pride in a partnership model that connects local communities to the global renewable energy economy. Dimension is driven to push our economy forward while fostering a socially responsible clean energy transition. For more information about Dimension Energy, please visit www.dimension-energy.com.
Partners Group media relations contact
Clare Burrows
Phone: +1 (212) 908 2708
Email: [email protected]
Press release
Denver, CO, USA; 28 June 2021
- Dimension is a leading distributed energy platform with a focus on the high-growth community solar and battery storage sector
- The Company is expected to grow to more than USD 1 billion and become one of the largest community solar operators in the US
- The acquisition reflects Partners Group's focus on decarbonization as a major investment theme across private markets globally
Partners Group, a leading global private markets firm, has, on behalf of its clients, agreed to acquire a controlling equity stake in Dimension Renewable Energy ("Dimension" or "the Company"), a leading distributed energy platform focusing on community solar and battery storage across the US.
Dimension is focused on originating, developing, financing and operating community solar and battery storage facilities across the US and has developed a deep pipeline of over 180 projects totaling over 800 MWs of solar capacity, and over 800 MWhs of battery storage across eight states. Dimension's projects will serve residential, commercial, and industrial subscribers from the local community where the projects are located. Partners Group will work closely with co-founders Rafael Dobrzynski and Sam Youneszadeh to grow Dimension into a more than USD 1 billion platform and one of the largest community solar operators in the US.
Community solar benefits from several transformative trends driving the low-carbon transition, including the increasing environmental consciousness of consumers, a regulatory landscape facilitating the decentralization of the power sector to improve reliability, and broadening access to the benefits of renewable energy to historically underserved consumers and households.
Todd Bright, Partner, Head Private Infrastructure Americas, Partners Group, says: "Dimension represents an excellent fit for our transformational investing strategy given the scope to grow the platform into a leading independent power producer that will build, own and operate solar projects, capturing the benefits of scale in the distributed generation space. The highly fragmented nature of the community solar market in the US, as well as Partners Group's extensive experience building platform assets, allows for significant potential to add to Dimension's organic pipeline through project-level M&A."
Rafael Dobrzynski, Co-Founder, Chief Executive Officer, Dimension Renewable Energy, comments: "Dimension is on a strong growth trajectory and we recognize that there is an even greater market opportunity to create an integrated developer, owner and operator of community solar projects in the US. We believe Partners Group's focus on transformational investing, as well as the firm's proven track record in renewable energy, significant resources, and operational expertise, make the firm the right partner for us as we expand the platform."
Patrick Langan, Member of Management, Private Infrastructure Americas, Partners Group, adds: "Community solar is contributing to the low-carbon transition in the US, and Dimension creates broad, positive stakeholder impact by expanding access to clean, affordable energy for local residents and small businesses. We will work closely with Rafael, Sam, and the rest of the management team, to implement the value creation plan at Dimension, including growing the operating asset portfolio, expanding the team, and entering new community solar and battery storage markets."
Since inception, Partners Group has invested in 20 energy transition assets globally, representing USD 23 billion in enterprise value.
About Partners Group
Partners Group is a leading global private markets firm. Since 1996, the firm has invested over USD 145 billion in private equity, private real estate, private debt and private infrastructure on behalf of its clients globally. Partners Group seeks to generate strong returns through capitalizing on thematic growth trends and transforming attractive businesses and assets into market leaders. The firm is a committed, responsible investor and aims to create sustainable returns with lasting, positive impact for all its stakeholders. With over USD 109 billion in assets under management as of 31 December 2020, Partners Group provides an innovative range of bespoke client solutions to institutional investors, sovereign wealth funds, family offices and private individuals globally. The firm employs more than 1,500 diverse professionals across 20 offices worldwide and has regional headquarters in Baar-Zug, Switzerland; Denver, USA; and Singapore. It has been listed on the SIX Swiss Exchange since 2006 (symbol: PGHN). For more information, please visit www.partnersgroup.com or follow us on LinkedIn or Twitter.
About Dimension Renewable Energy
Dimension Renewable Energy is a leader in community solar and is at the vanguard of market development. Dimension takes pride in a partnership model that connects local communities to the global renewable energy economy. Dimension is driven to push our economy forward while fostering a socially responsible clean energy transition. For more information about Dimension Energy, please visit www.dimension-energy.com.
Partners Group media relations contact
Clare Burrows
Phone: +1 (212) 908 2708
Email: [email protected]