Preheat oven to 400°F. Line a baking sheet with aluminum foil and lay slices of bacon on top. Bake for 8-10 minutes, or until cooked. Drain the bacon on paper towel and crumble into small pieces; reserve remaining bacon fat.
In a blender or food processor, puree 1 cup of the peas with water. Set aside.
In a large saucepan, heat the oil. Add the onion and cook over moderate heat until softened, 5 minutes. Add the rice and cook, stirring, until the rice is evenly coated with the oil. Add the wine and simmer until almost evaporated, 3 minutes. Add enough hot stock to just cover the rice and cook over moderate heat, stirring, until the stock has been absorbed. Add more stock to cover the rice. Continue cooking and stirring, adding more stock as it is absorbed, until the rice is al dente, approximately 25 minutes.
Add the pea puree, the remaining peas and the bacon and cook, stirring, until hot. Remove the risotto from the heat and stir in cheese, 1 tbsp of bacon fat, lemon juice and dill. Season with salt and pepper.