Dimension Energy Closes $650 Million Community Solar Project Financing Package

Financing will support 25 community solar projects in PA, NY, NJ, and IL

Dimension Energy (Dimension), a leading community solar developer, owner, and operator, announced it has secured its largest construction and term financing, $650 million, to support a 132MW portfolio of 25 community solar projects in Pennsylvania, New York, New Jersey, and Illinois.

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Dimension's Union Solar project serves over 450 households in Union, NJ.

First Citizens Bank, Mitsubishi UFJ Financial Group, Inc. (MUFG), ING Capital LLC, and National Bank of Canada provided $415 million in debt financing, joined by first-time Dimension partner Franklin Park, which contributed $235 million in tax equity.

"Our largest project financing to-date is a testament to Dimension's track record and the critical role distributed generation plays in solving America's energy crisis," said Rafael Dobrzynski, Co-Founder and CEO of Dimension Energy. "We're thrilled to welcome Franklin Park as a new partner and to continue our strong relationships with First Citizens Bank, MUFG, ING, and National Bank of Canada."

The value proposition of community solar continues to grow as U.S. electric prices reach historic highs. Community solar projects provide subscribers with immediate savings on their utility bills and generate power close to where it is used, minimizing the need for costly long-distance transmission infrastructure. Dimension's projects are frequently developed and brought online in as little as 18 months.

"Dimension Energy is a leader in delivering clean power through their community solar projects across the U.S.," said Mike Lorusso, Group Head of Energy Finance at First Citizens Bank. "Our team is committed to delivering tailored financing to help clean energy innovators achieve their growth objectives. We are excited to continue our long-standing relationship with Dimension Energy by providing financing to support this latest portfolio of projects."

"MUFG is pleased to have acted as a coordinating lead arranger (CLA) for the successful closing of Dimension Energy's latest landmark project. Distributed power generation—and community solar in particular—is a growing segment of the renewable energy market that plays a vital role in meeting U.S. energy needs and enables the participation of a wide range of community members. We look forward to continuing to support Dimension's ambitious growth in the industry," said Fred Zelaya, Managing Director – Project Finance, MUFG.

"We are proud to have supported Dimension across multiple financings over several years, and to continue that partnership with the successful closing of this most recent transaction," said Nada Elreedy, Director Renewables & Power, ING Capital LLC. "Dimension's ability to deliver high‑quality portfolios across markets has positioned them as a well‑established leader in the sector, and we are pleased to continue supporting their growth through our ongoing relationship"

"National Bank of Canada is proud to support Dimension Energy on its most recent community solar portfolio," said John Hunt, Managing Director, Project Finance at National Bank of Canada. "Building on our long-term partnership with Dimension, this financing underscores our commitment to promoting sustainable development by actively supporting our clients across the renewable energy sector."

"Franklin Park is proud to partner with Dimension Energy on this portfolio of community solar projects," said Neil McQueen, Vice President, Franklin Park Infrastructure. "Dimension is a leader in solar development and operations, and their proven platform makes them an ideal partner for us as we increase our investments in distributed clean energy assets."

This transaction underscores Dimension Energy's continued ability to scale high‑impact community solar through strong capital partnerships and disciplined execution. With this financing, Dimension advances its mission to deliver affordable, locally generated clean energy while expanding access to reliable infrastructure across key U.S. markets.

CG/ CRC-IB acted as the exclusive financial advisor to Dimension. Stoel Rives LLP served as counsel for Dimension, Foley & Lardner LLP served as counsel for the lender group, and McDermott Will & Schulte served as counsel for Franklin Park. Enertis Applus + acted as the independent technical advisor for the projects.

About Dimension Energy

Dimension Energy is a leading community solar developer, owner, and operator. Since its founding in 2018, Dimension has executed more than 1,000 megawatts (MW) of community solar and invested more than $1B in distributed energy infrastructure. Dimension has 3.5 GW under development across 14 markets today, and serves over 35,000 customers. In the communities where we invest, our projects deliver clean energy, local jobs, tax revenue, and savings, alongside other benefits including workforce development and educational opportunities. Learn more at www.dimension-energy.com.

About First Citizens Bank

First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh, N.C., First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services including a network of branches and offices nationwide; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; and a nationwide direct bank. Parent company First Citizens BancShares, Inc. (NASDAQ:FCNCA) is a top 20 U.S. financial institution with more than $200 billion in assets and a member of the Fortune 500™. Discover more at firstcitizens.com.

About Mitsubishi UFJ Financial Group, Inc. (MUFG)

Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world's leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with approximately 2,000 locations in more than 40 countries. The Group has about 150,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to "be the world's most trusted financial group" through close collaboration among our operating companies and flexible response to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG's shares trade on the Tokyo, Nagoya, and New York stock exchanges. For more information, visit https://www.mufg.jp/english.

MUFG's Americas operations, including its offices in the U.S., Latin America, and Canada, are primarily organized under MUFG Bank, Ltd. and subsidiaries, and are focused on Global Corporate and Investment Banking, Japanese Corporate Banking, and Global Markets. MUFG is one of the largest internationally headquartered financial institutions in the Americas. For locations, banking capabilities and services, career opportunities, and more, visit https://www.mufgamericas.com.

About ING Capital LLC

ING Capital LLC is a financial services firm offering a full array of wholesale financial lending products and advisory services to its corporate and institutional clients. ING Capital LLC is an indirect U.S. subsidiary of ING Bank NV, part of ING Groep NV (NYSE:ING), a global financial institution with a strong European base. The purpose of ING Bank is empowering people to stay a step ahead in life and in business. ING Bank's more than 60,000 employees offer retail and wholesale banking services to customers in over 100 countries. Please note that neither ING Groep NV nor ING Bank NV have a banking license in the U.S. and are therefore not permitted to conduct banking activities in the U.S.

About National Bank of Canada

With $606 billion in assets as at January 31, 2026, National Bank of Canada (the "Bank") is one of Canada's six systemically important banks. The Bank has more than 35,000 employees in knowledge-intensive positions and operates three business segments in Canada: Personal and Commercial Banking, Wealth Management and Capital Markets. A fourth segment, U.S. Specialty Finance and International, complements the growth of its domestic operations. Its securities are listed on the Toronto Stock Exchange (TSX:NA). Follow the Bank's activities at nbc.ca or via social media.

About Franklin Park Infrastructure

Franklin Park is an international infrastructure company with a diverse portfolio of tax credit investments, energy generation and storage projects, and infrastructure businesses. www.frpark.com

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Patrick Schaufelberger, [email protected]