Articles from NineDot Energy

NineDot Energy®, the leading developer of community-scale battery energy storage systems (BESS) in the New York City metro area, today announced the closing of a $65 million equipment financing transaction led by First Citizens Bank, a leader in renewable energy finance. This financing supports the purchase of nearly 100 Megawatts (MW) / 400 Megawatt hours (MWh) of batteries for use in up to 20 battery storage projects across the New York City metro area.

NineDot Energy®, the leading developer of community-scale battery energy storage systems (BESS) in the New York City metro area, today announced the hiring of Douglas (Doug) Johnsen as the company’s new Chief Financial Officer.

NineDot Energy®, the leading developer of community-scale battery energy storage systems (BESS) in the New York City metro area, today announced the closing of the company’s first tax equity financing of over $40 million. The transaction was facilitated by Monarch Private Capital and involves seven battery storage projects in the New York City region.

NineDot Energy®, the leading developer of community-scale battery storage projects in the New York City metro area, today announced the closing of an additional $25 million revolving credit facility provided by NY Green Bank (NYGB), a division of the New York State Energy Research and Development Authority (NYSERDA). This facility extends and increases the early-stage standalone storage financing completed by NYGB — announced one year ago — to $50 million. For NineDot Energy, this financing will help fund the Company’s growing pipeline of battery storage projects being built which supports New York’s transition to cleaner, more sustainable energy sources, and is consistent with NineDot’s goal of having 400 megawatts (1600 megawatt hours) of battery storage in development or operation by the end of 2026. For NYGB, this transaction represents another step in its innovative financial support for clean energy infrastructure.

NineDot Energy®, the leading developer of community-scale battery energy storage systems (BESS) in the New York City metropolitan area, today announced that it secured an additional $225 million equity capital commitment from Manulife Investment Management as well as Carlyle (NASDAQCG), NineDot’s existing institutional equity investor. Manulife Investment Management led the round with a $135 million commitment and concurrently acquired an equity interest. This new equity funding is expected to allow NineDot to advance its substantial project pipeline in the New York City area and to expand geographically as well as potentially through acquisitions. When combined with existing project financings from CIT, SMBC, and NY Green Bank, a division of the New York State Energy Research and Development Authority (NYSERDA), among others, NineDot has now secured a capital base of approximately $400 million.

NineDot Energy®, a leading developer of community-scale clean energy projects, today announced that Starbucks (NASDAQSBUX), the premier roaster and retailer of specialty coffee in the world, has signed an energy credit subscription agreement with the company. NineDot’s initial battery storage site, located in the Pelham Gardens neighborhood of the Northeast Bronx, is a first-of-its-kind, fully approved, community-scale battery storage system in New York City, designed to provide power and resilience to the local power grid at times of peak demand. This site is operational and generating energy credits this year. In addition, NineDot has approximately 30 projects under construction across the city, with many more in the evaluation and design phase.

NineDot Energy®, a leading developer of community-scale clean energy projects backed by the global investment firm Carlyle (NASDAQCG), today announced the closing of its new $85 million construction-to-term debt facility. Provided by CIT and SMBC, two of the leading names in the world of renewable energy project financing, this facility supports the construction and operation of eleven (11) of NineDot’s battery storage sites in the Bronx, Staten Island, Queens, and Long Island. Combined with NineDot’s existing strong equity capital base, this new funding solidifies the Company’s position as a major distributed community energy developer in the New York City metropolitan region, making the local electricity grid more robust while facilitating New York City’s and State’s push for decarbonization, by integrating more clean energy into the grid during times of peak demand.

NineDot Energy®, a leading developer of community-scale clean energy projects, today announced the closing of a new $25 million revolving credit debt facility provided by NY Green Bank (NYGB), a division of the New York State Energy Research and Development Authority (NYSERDA). This facility is the first purely energy storage transaction completed by NYGB. For NineDot Energy, this financing will help fund the Company’s growing pipeline of battery storage projects being built in support of New York’s transition to cleaner, more sustainable energy sources, and is consistent with NineDot’s goal of installing 400 megawatts (1600 megawatt hours) by the end of 2026. For NY Green Bank, this transaction represents another step in its innovative financial support of New York State's Climate Leadership and Community Protection Act (CLCPA) goal to develop 3000 megawatts of storage by 2030 (on the path to developing a nation-leading 6000 megawatts of energy storage).

NineDot Energy®, a leading developer of community-scale clean energy projects backed by global investment firm Carlyle, today unveiled its first battery energy storage site in the Bronx, New York City. With a 3.08 MW (megawatts)/12.32 MWh (megawatt-hours) Tesla Megapack system, a solar canopy, and infrastructure ready for bi-directional electric vehicle chargers, this NineDot Energy site is a model for how to develop future urban clean energy projects. Combined with the large NineDot Energy pipeline, this project also supports the company’s goal of delivering 400 MW of clean energy systems by 2026 that strengthen the local power grid and provide stable, reliable and resilient power to tens of thousands of New York City households and businesses.

NineDot Energy, a leading developer of community-scale clean energy projects, today announced a strategic investment from funds managed by global investment firm Carlyle (NASDAQCG). Carlyle’s investment will enable NineDot to develop, build, and operate over 400 megawatts (MW) of clean energy systems by 2026 that strengthen local power grid infrastructure and provide stable, reliable, and resilient power to tens of thousands of New York households and businesses.