NineDot Energy raises $431 million in debt financing to develop community-scale battery energy storage systems (BESS) in the New York City metro area.
The debt financing comprises a construction-to-term loan facility, a tax-credit-transfer bridge loan, and a letter-of-credit facility.
Natixis Corporate & Investment Banking led the debt funding round.
With fresh funds, NineDot Energy plans to start the construction of 28 battery storage projects totaling 124 MW (megawatts) / 494 MWh (megawatt-hours) – capable of powering over 100,000 New York City households during peak hours on a hot summer day.
All of these 28 projects will reach commercial operation on a rolling basis from now through the end of 2027, according to NineDot Energy.
“With this financing, NineDot has raised more than one billion dollars to bring community battery storage to the NYC metro area,” said David Arfin, NineDot Energy CEO and Co-founder.
NineDot Energy is the leading community-scale battery storage developer and operator in the New York City metropolitan region.
Going ahead in 2026, NineDot is also expanding beyond stationary storage to incorporate mobile batteries and electric vehicle charging into some of our current and future sites , while also considering geographical expansion.