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. This transaction reflects the importance of battery energy storage in making the New York electric grid cleaner and more sustainable, while also affirming NineDot’s leadership position in the region.

“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,” said David Arfin, NineDot Energy CEO and Co-founder. “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.”

“NineDot Energy is a clear leader in bringing critical energy storage infrastructure to the New York region,” said Jeremy Eisman, Head of Infrastructure and Energy Financing, Deutsche Bank. “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. These activities support NineDot’s vision for broad, distributed energy storage throughout New York City, all in support of New York State’s goal of having 6000 megawatts of battery storage in operation by 2030.

This facility also enabled NineDot to pay back its existing revolver for funding grid interconnection deposits with NY Green Bank.

Kelsey Clair, Managing Director, NY Green Bank said, “This milestone reflects how targeted financing can unlock private capital and accelerate the growth of New York’s clean energy markets. We commend NineDot for advancing community-scale battery storage and look forward to building on this momentum statewide.”