NineDot Energy Completes $431 Million Financing With Natixis Corporate & Investment Banking For 28 Battery Energy Storage Projects In New York City

NineDot Has Raised More Than One Billion Dollars To Modernize NYC’s Urban Electric Grid

NEW YORK–(BUSINESS WIRE)–#BESS—NineDot Energy®, the leading developer of community-scale battery energy storage systems (BESS) in the New York City metro area, today announced a $431 million debt financing led by Natixis Corporate & Investment Banking for the construction of 28 battery storage projects totaling 124 MW (megawatts) / 494 MWh (megawatt-hours) – capable of powering over 100,000 City households during peak hours on a hot summer day. These projects are part of NineDot’s 60+ project pipeline, and are in addition to the Company’s NYC projects already in operation.

“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. “This milestone shows the commitment, understanding and urgency another leading financial institution sees in deploying batteries on the urban grid. Industry forecasters continue to sound the alarm about the inexorable increase in electricity usage, from the growth of electric transportation, to data centers, to changing weather patterns. By optimizing how we use energy and manage the grid, battery storage will play a critical part in meeting these demands.”

The $431 million financing comprises a construction-to-term loan facility, a tax-credit-transfer bridge loan, and a letter-of-credit facility. NineDot is using this funding to support the construction and operation of a portfolio of 28 BESS projects expected to reach commercial operation on a rolling basis from now through the end of 2027. All of these projects help make the electric grid cleaner, more resilient and more affordable.

The construction teams that build and the maintenance groups that support these BESS projects are from New York, including a wide range of skilled contractors and other specialists. NineDot estimates that this portfolio and other BESS under development by NineDot will create more than 3,000 direct and indirect jobs, representing a total economic output of nearly $3.5 billion over the lifetime of the projects, in addition to the energy and affordability improvements that BESS delivers.

All of these projects are enrolled in New York’s “Statewide Solar for All” (S-SFA) energy affordability program (which includes battery storage), an innovative initiative that generates funds for households needing assistance to pay their energy bills. Projects enrolled in the S-SFA program will contribute a percentage of revenues (generated from energy exports to the grid) to an S-SFA savings pool that is distributed annually to utility customers in energy affordability programs who also reside in a disadvantaged community. These households will automatically receive credit on their energy bills from this program beginning in 2026. NineDot estimates that the Company’s currently enrolled S-SFA projects – including the 28 supported by this financing – will contribute over $60 million to this savings pool during the next ten years.

“We’re exceedingly pleased to have worked with NineDot Energy on this impactful financing,” said Jim Kaiser, Head of Infrastructure and Energy, North America at Natixis CIB. “Natixis CIB is an innovative financial institution, well-positioned to support the grid modernization that NineDot has accomplished here.”

BESS can reduce reliance on high-emissions “peaker” plants, outdated facilities which have been found to cause asthma and other illnesses. BESS will help maximize the use of carbon-free, intermittent sources of energy like solar and wind. And at times of peak demand, like hot summer afternoons, BESS also helps deliver energy where it’s needed most to protect New Yorkers’ health, keeping lights on and air conditioners running in neighborhoods where the grid is under strain. For example, one 5 MW site is able to power about 5,000 NYC households for four hours on a hot summer day when the electric grid is under stress. This new portfolio of projects will be ready to support over 100,000 households in the same way, in addition to NineDot’s existing operating fleet.

NineDot Energy is on track to achieve its goal of having 400 MW of battery storage in operation, construction or development by the end of 2026. The company currently has seven operating projects at four locations in Staten Island and The Bronx, and NineDot anticipates additional projects coming online in the coming months throughout New York City, in time to support the community during the summer of 2026. Based on public interconnection queue data, NineDot’s portfolio of mature community battery storage projects is second to none in ConEd’s New York territory.

Contact NineDot at nine.energy/connect.

About NineDot Energy

NineDot Energy is the leading community-scale battery storage developer and operator in the New York City metropolitan region. We create innovative urban energy solutions that support a more resilient and affordable grid, reduce carbon emissions, and improve environmental equity. Overall our solutions make New York a cleaner, safer, and healthier place to live, work and visit. 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. NineDot Energy’s name derives from the classic mathematical puzzle for sparking out-of-the-box solutions. We are based in Brooklyn, New York at NYU’s Urban Future Lab. Learn more at nine.energy.

Contacts

NineDot Energy Media Contact
Karen Alter, 650-383-8552, karen@nine.energy