NineDot Energy, a community-scale battery energy storage systems developer, closed a $431 million debt financing led by Natixis Corporate & Investment Banking for the construction of 28 battery energy storage projects totaling 124 MW/494 MWh.
These projects are part of the company’s 60+ project pipeline and are in addition to NineDot’s New York projects already in operation. The portfolio is expected to reach commercial operation on a rolling basis from now through the end of 2027.
The financing includes a construction-to-term loan facility, a tax-credit-transfer bridge loan, and a letter-of-credit facility.
NineDot estimates that this portfolio and other battery storage projects under development will create over 3,000 direct and indirect jobs. New York-based teams are providing construction and maintenance services for the projects.
All these projects are enrolled in New York’s “Statewide Solar for All” (S-SFA) energy affordability program (which includes battery storage), under which the projects 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.
The company estimates that its currently enrolled S-SFA projects, including the portfolio supported by this financing, will contribute more than $60 million to this savings pool during the next ten years.
NineDot currently has seven operational projects at four locations in Staten Island and The Bronx and is expected to achieve 400 MW of battery storage capacity in operation, under construction, or development by the end of 2026.
Previously, in 2025, the company closed a $175 million revolving debt facility with Deutsche Bank to support its full development cycle, from grid interconnection deposits to equipment procurement and project construction. In addition, NineDot also raised a $65 million equipment financing transaction led by First Citizens Bank in January 2025.
Large-scale project funding increased by 73% in 2025 compared with the funding raised in 2024, according to Mercom’s recently released Annual and Q4 2025 Energy Storage Funding and M&A report. Deal activity also rose sharply, with a 71% increase YoY.
