NineDot Energy has secured a revolving credit debt facility of $25 million from NY Green Bank to finance its growing pipeline of battery storage projects that support New York’s transition to cleaner and more sustainable energy sources. This marks NYGB’s first transaction that is solely focused on energy storage and aligns with its goal of developing 3,000MW of storage by 2030. NineDot Energy aims to install 400MW (1,600MWh) of battery storage by 2026. The funds will be used to finance the interconnection of energy storage projects located in the New York City metro area, initially covering 14 battery storage sites, with plans to expand to around 40 projects, each up to 5MW, in the coming years.
Resource: https://esgnews.com/ninedot-energy-closes-25-million-revolving-credit-facility-with-ny-green-bank/