NineDot Energy, a community-scale battery energy storage systems developer, closed a $175 million revolving debt facility with Deutsche Bank.
The financing will support NineDot’s full development cycle, from grid interconnection deposits to equipment procurement and project construction. This new facility also enabled the company to repay its existing revolving credit facility, which had previously been used to fund interconnection deposits with NY Green Bank.
NineDot Energy currently manages seven projects across four sites located in The Bronx and Staten Island. The company aims to achieve a total of 400 MW in projects that are either developed, under construction, or operational by the end of 2026.
“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,” said David Arfin, NineDot Energy CEO and Co-founder.
“This milestone reflects how targeted financing can unlock private capital and accelerate the growth of New York’s clean energy markets,” said Kelsey Clair, Managing Director, NY Green Bank.
Earlier this year, the company closed a $65 million equipment financing transaction. Renewable energy finance provider First Citizens Bank led the funding to support the company’s plans to purchase nearly 100 MW/400 MWh of batteries for use in up to 20 battery storage projects across the New York City metro area.
According to Mercom’s 1H and Q2 2025 Funding and M&A Report for Energy Storage report, announced debt and public market financing for Energy Storage companies in 1H 2025 came to $7.4 billion in 19 deals, a 43% decrease YoY compared to $13 billion in 16 deals in 1H 2024.
In September, Terra One, a startup specializing in grid-connected battery energy storage systems, announced that it had secured up to €150 million (~$176 million) in mezzanine financing from Aviva Investors to support the development of approximately 3 GWh of energy storage capacity.
