Partners Group To Acquire Stake In Dimension RE

• Partners Group to acquire majority stake in US based Dimension Renewable Energy
• The US community solar platform has a pipeline of more than 800 MW solar power capacity and over 800 MWh of battery energy storage
• The Swiss private equity firm plans to grow Dimension Renewable Energy into a $1 billion platform in the space

At the behest of its clients, Switzerland based private markets firm Partners Group will acquire a controlling stake in a US based community solar energy platform called Dimension Renewable Energy that organically originates, develops, finances and operates community solar and battery storage projects.

Dimension Renewable Energy is co-founded and led by CEO Rafael Dobrzynski and Co-Founder and Chief Development Officer Sam Youneszadeh; both were previously worked for SunEdison.

The company touts a 'deep pipeline' of more than 180 projects with over 800 MW of solar capacity and battery storage capacity exceeding 800 MWh. This pipeline is spread across 8 states and will cater to residential, commercial and industrial subscribers located in proximity of the facilities.

With Partners Group's financial prowess behind it, Dimension Renewable Energy aims to grow into a platform valuing more than $1 billion and establish itself as one of the largest independent power producer (IPP) community solar operators in the country to build, own and operate solar projects, the duo said in a joint statement. The company will also expand into new community solar and battery storage markets.

Partners Group explained the acquisition reflects its focus on decarbonization as a major investment theme across private markets globally.

"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," said Todd Bright, Partner, Head Private Infrastructure Americas, Partners Group.

According to SEIA's US Solar Market Insight Report 2021 Q2, the US community solar PV segment promises growth after PV additions dropped 15% in Q1/2021 to 131 MW DC in this space. In 2021, the authors of the report said it can grow to a record 909 MW DC as interconnection issues are sorted in several states (see US Installed 5 GW DC New Solar Capacity In Q1/2021).