NineDot Energy unlocks financing for 43 MW of NYC battery projects
Author: Portland General Electric. License: Creative Commons, Attribution-NoDerivs 2.0 Generic.
US clean energy solutions provider NineDot Energy has secured financing to realise 11 standalone battery storage projects delivering 43 MW across the New York City region.
CIT, a division of First Citizens Bank, and SMBC provided a USD-85-million (EUR 81m) construction-to-term debt facility to support construction and operation of the systems, NineDot and CIT said on Wednesday.
The sites are located in the Bronx, Staten Island, Queens and Long Island.
NineDot is focused on developing community-scale urban energy solutions, mainly battery storage, in the New York City metropolitan area. The firm is backed by private equity investor Carlyle Group Inc (NASDAQ:CG).
“Just about four months ago we unveiled our first-of-its-kind battery storage site in the Bronx. With this project finance facility, we will accelerate the growth of our community energy pipeline and implementation, bringing the benefits of distributed, local battery storage solutions to the broadest range of organizations and communities in the New York City region,” said David Arfin, NineDot Energy CEO and Co-founder.
“Along the way, we accelerate the retirement of old ‘peaker plants’ while transitioning to a more environmentally-just urban energy grid,” Arfin added.
Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.