NineDot Energy, a developer of community-scale battery energy storage systems (BESS) in the New York City metro area, completed a $175 million revolving debt financing from Deutsche Bank, a global company in energy infrastructure finance.
“NineDot’s mission is to create innovative urban energy solutions for a cleaner and more sustainable future, and battery storage is a key part of that for New York City,” David Arfin, CEO and co-founder of NineDot Energy, said. “With seven projects operating during this past hot summer, we’ve proven that we can deliver safe and reliable energy solutions in a dense urban area. Our next step is to accelerate our growth and scale our business, and Deutsche Bank recognized the importance of and opportunity in our approach.”
Jeremy Eisman, head of infrastructure and energy financing at Deutsche Bank, added, “NineDot Energy is a clear leader in bringing critical energy storage infrastructure to the New York region. Deutsche Bank is pleased to continue expanding our distributed development financing offering and to support a premier community storage developer right here in New York City. We look forward to partnering with Carlyle, Manulife and NineDot as they continue their vital work enhancing energy resilience for local communities.”
NineDot will use this debt financing to support activities across the development timeline, from grid interconnection deposits, to equipment procurement and project construction. This facility also enabled NineDot to pay back its existing revolver for funding grid interconnection deposits with NY Green Bank.
“This milestone reflects how targeted financing can unlock private capital and accelerate the growth of New York’s clean energy markets,” Kelsey Clair, managing director of NY Green Bank, said. “We commend NineDot for advancing community-scale battery storage and look forward to building on this momentum statewide.”
