NineDot Energy, a developer of community-scale battery energy storage systems in the New York City metro area, has closed a $431 million debt financing led by Natixis Corporate & Investment Banking to fund construction of 28 battery storage projects across the city. The portfolio totals 124 MW of capacity and 494 MWh of energy storage, and the company says the systems are designed to support more than 100,000 city households during peak-demand periods on hot summer days.
The financing supports a set of projects drawn from NineDot’s pipeline of more than 60 developments and adds to a fleet of New York City projects already operating. NineDot said the latest raise brings its total capital raised for community battery storage in the NYC metro area to more than one billion dollars, framing the milestone as additional validation from large financial institutions of the urgency to deploy batteries on dense urban grids as electricity usage rises from trends including electric transportation, data centers, and shifting weather patterns.
NineDot said the $431 million package includes a construction-to-term loan facility, a tax-credit-transfer bridge loan, and a letter-of-credit facility. The company plans to use the funding to build and operate the 28-project portfolio, which is expected to reach commercial operations on a rolling basis from now through the end of 2027. NineDot positioned the buildout as part of broader grid modernization efforts to improve resilience, reduce emissions, and lower customer costs.
The company also highlighted local economic impacts, saying construction and maintenance work will be performed by New York-based teams and contractors. NineDot estimated that this portfolio, along with additional battery systems under development, could create more than 3,000 direct and indirect jobs and generate nearly $3.5 billion in total economic output over the projects’ lifetimes.
NineDot said all projects in the portfolio are enrolled in New York’s Statewide Solar for All energy affordability program, which includes battery storage. Under the program, participating projects contribute a portion of revenue from energy exports to a savings pool, which is distributed annually to utility customers enrolled in energy affordability programs who also live in disadvantaged communities. The company said those customers will begin receiving bill credits tied to the program in 2026, and estimated that its currently enrolled projects, including the 28 financed in this transaction, will contribute more than $60 million to the savings pool over the next 10 years.
In outlining the operational value of the systems, NineDot emphasized batteries’ ability to reduce reliance on high-emissions peaker plants, increase utilization of intermittent renewable generation such as solar and wind, and help stabilize the grid during periods of extreme demand. The company provided an example of a 5 MW site that can power roughly 5,000 NYC households for four hours on a hot summer day, and said the new portfolio is intended to provide similar support at a scale capable of serving more than 100,000 households.
NineDot said it is targeting 400 MW of battery storage in operation, under construction, or in development by the end of 2026. The company currently has seven operating projects across four locations in Staten Island and the Bronx, and expects additional projects to come online in the coming months to support New York City during the summer of 2026. Citing public interconnection queue data, NineDot also said its portfolio of mature community battery storage projects ranks among the strongest in Consolidated Edison’s New York territory.
NineDot is based in Brooklyn at NYU’s Urban Future Lab and said it is also exploring expansion beyond stationary storage, including mobile batteries and electric-vehicle charging at some current and future sites, as well as potential geographic expansion.
KEY QUOTES
“With this financing, NineDot has raised more than one billion dollars to bring community battery storage to the NYC metro area. This milestone shows the commitment, understanding and urgency another leading financial institution sees in deploying batteries on the urban grid. Industry forecasters continue to sound the alarm about the inexorable increase in electricity usage, from the growth of electric transportation, to data centers, to changing weather patterns. By optimizing how we use energy and manage the grid, battery storage will play a critical part in meeting these demands.”
David Arfin, CEO And Co-Founder, NineDot Energy
“We’re exceedingly pleased to have worked with NineDot Energy on this impactful financing. Natixis CIB is an innovative financial institution, well-positioned to support the grid modernization that NineDot has accomplished here.”
Jim Kaiser, Head Of Infrastructure And Energy, North America, Natixis Corporate & Investment Banking
