Ares Infrastructure and Power Builds out Battery Storage Portfolio
Posted on 02/11/2020
Dimension Renewable Energy was founded in 2018 by Rafael Dobrzynski and Sam Youneszadeh and has raised Series A and B rounds. The company has originated and developed over 200 megawatts of solar and over 1 gigawatt of energy storage throughout the United States. Dimension Renewable Energy is focused on serving commercial and industrial customers’ on-and-off-site renewable needs. Series A investors include TJ Rodgers, the founder of Cypress Semiconductor and former chairman of SunPower, and Roberto Sahade, founder of GMR Energia group, a family corporation.
Ares Infrastructure and Power is a unit of Ares Management Corporation. Ares Infrastructure and Power is partnering with Dimension Renewable Energy on a portfolio of utility-scale battery energy storage projects located in New York state that are currently under development by Dimension Renewable. Upon completion of certain development milestones, funds managed by Ares Infrastructure and Power will acquire and construct the projects. The portfolio includes a diverse slate of projects across New York state, including projects on Long Island.
Ares is keen on getting its investors exposure to utility-scale battery storage in New York state. The portfolio is the third battery storage investment for Ares Infrastructure and Power.
