NineDot Energy has closed a $431 million financing package led by Natixis to build a 124 MW / 494 MWh community-scale BESS portfolio across New York City. The capital stack includes a construction-to-term loan, a tax credit transfer bridge facility, and a letter of credit facility. With this raise, NineDot has now secured over $1 billion in total capital.

The insight is simple: community-scale storage is now financeable at scale using structured debt tied directly to tax credit monetization and staged COD visibility.

The portfolio comprises 28 BESS projects across the Bronx, Brooklyn, Queens, Staten Island, and Westchester County, each averaging 4-hour duration. All projects are enrolled in New York’s Statewide Solar for All (S-SFA) program and are expected to reach COD on a rolling basis through 2027.

Commercially, this structure matters. Construction-to-term debt reduces refinancing risk. The tax credit bridge accelerates equity recycling. Letters of credit de-risk utility and program obligations. This is institutional capital backing distributed storage, not merchant speculation.

It also signals something broader: policy-backed, distribution-level BESS portfolios in dense load pockets like NYC are now viewed as infrastructure-grade assets. Capital is flowing where interconnection, incentives, and load are aligned.

Want to track the latest M&A, financings, PPAs, and key developments across the industry? Explore the Enerdatics Insights page.