Distributed energy infrastructure company Dimension Energy has raised $857 million in additional capital to expand its distributed solar platform. The financing includes a $200 million increase in its corporate credit facility and a $657 million construction-to-term debt and tax equity package. This financing will support 29 distributed solar projects totaling 149 MW across Illinois, New Jersey, New York, Pennsylvania and Virginia. The company said the additional capital will help move projects from development into construction. Dimension Energy currently has more than 600 MW of distributed energy assets operating or under construction and aims to reach 1 GW of operating assets by 2028.
EDF power solutions North America has signed two 25-year power purchase agreements (PPAs) with Nevada utility NV Energy for the Winston Energy Project in Lyon County, Nevada. The project will combine 400 MW AC of solar PV with a 400 MW/1,600 MWh battery energy storage system (BESS). Commercial operations are targeted for October 2029. EDF said the project will supply electricity to NV Energy customers. On completion, it is expected to generate closer to 1,110,000 MWh annually.
ENGIE has signed a 48 MW AC solar PPA with data center company QTS to supply renewable electricity to the latter’s data center operations in Irving, Texas. The agreement is linked to a separate long-term PPA between ENGIE and independent power producer (IPP) ABEI Energy for power from the Lubio Solar project in Kaufman County, Texas. The 61 MW AC Lubio Solar Project is expected to generate about 150 GWh of electricity annually once operational. For ABEI, the deal is its first renewable energy transaction with ENGIE in the US.
“By partnering with ENGIE, we’re able to support reliable, renewable energy procurement while simplifying delivery through our retail supply arrangement. Collaborations like this help us align clean energy procurement with the operational needs of our data centers,” said QTS Vice President Energy and Sustainability, Travis Wright.
US tax equity investment firm Foss & Company has closed around $150 million in Section 48E tax equity investment for a portfolio of distributed energy projects in Illinois. A joint venture (JV) between Summit Ridge Energy and Apollo Global Management owns this portfolio. It includes community solar projects eligible for Domestic Content, Energy Community, and Low-Income tax credit adders. The transaction is among the first announced tax equity deals under the new Section 48E Clean Electricity Investment Tax Credit framework and required the companies to address Foreign Entity of Concern (FEOC) requirements under the One Big Beautiful Bill Act (OBBBA). More than half of the projects are expected to participate in Illinois' Adjustable Block Program, supported by 15- or 20-year renewable energy credit streams, stated Summit Ridge.
Brookfield, a global investment firm, and La Caisse, a Canadian institutional investor, have completed the acquisition of Canadian renewable energy producer Boralex. The buyers acquired all outstanding Boralex Class A shares for CAD 37.25/share in cash, following the previously announced agreement (see North America Solar PV News Snippets). Boralex will continue to operate as an independent company following the acquisition. As a result, Boralex's shares have been delisted from the Toronto Stock Exchange. Boralex has about 3.8 GW of operating wind, solar, hydro, and battery storage assets across Canada, France, the US and the UK.
US-based perovskite-silicon solar manufacturer Tandem PV has acquired Oregon-based nexTC Corporation, bringing its thin-film metal oxide coating technology, intellectual property (IP) and expertise in-house. The move, Tandem PV explained, aims to give the company greater control over a key manufacturing process as it scales toward commercial production. nexTC specializes in solution-based transparent oxide coatings that help manage charge transport in tandem solar cells while allowing sunlight to reach the underlying silicon layer. Tandem PV said the technology is important for module efficiency, durability and manufacturability. nexTC Founder and CEO Cory Perkins will join Tandem PV following the acquisition. Tandem PV recently launched its 65,000 sq. ft. commercial demonstration factory in Fremont with close to 40 MW annual nameplate capacity (see Tandem PV Opens 40 MW Perovskite-Silicon Fab In US).
