EXECUTIVE SUMMARY
Natixis Corporate & Investment Banking has closed USD 431 million in construction financing for a 28-asset battery energy storage system portfolio developed by NineDot Energy across New York City. The financing supports 124 MW/494 MWh of distributed BESS capacity designed to enhance grid reliability, congestion management, and operational flexibility within constrained urban distribution networks.
Company: NineDot Energy
Location: New York City & Westchester County, United States
Project: 28-Asset BESS Portfolio
Capacity: 124 MW / 494 MWh
Financing: USD 431 Million
Lender: Natixis Corporate & Investment Banking
France-based global financial institution, Natixis Corporate & Investment Banking (Natixis CIB), has closed USD 431 million in construction financing to support a portfolio of 28 battery energy storage system (BESS) assets being developed by NineDot Energy across New York City.
The financing supports the construction of an aggregate installed capacity of 124 MW/494 MWh of energy storage, distributed across multiple locations in the city and surrounding areas. The assets are distributed across multiple boroughs, including the Bronx, Brooklyn, Queens and Staten Island, as well as Westchester County.
The financing structure includes a construction-to-term loan facility, a tax-credit-transfer bridge loan, and a letter-of-credit facility. This structure has been designed to address the technical, regulatory, and execution requirements associated with a multi-asset, urban BESS portfolio. The facilities collectively support capital expenditure requirements during construction while enabling flexibility for project-level completion and commissioning.
NineDot Energy’s portfolio is positioned within the Consolidated Edison interconnection queue, targeting nodes within constrained distribution networks. The projects are designed to provide short-duration energy storage services, supporting load management, system reliability and grid operational flexibility in dense metropolitan environments. The portfolio configuration reflects a distributed approach, with individual assets scaled for community-level deployment rather than single, centralized installations.
The supported BESS assets are expected to operate across multiple use cases, including peak load support, congestion management and responsive dispatch during periods of elevated demand. By integrating storage capacity closer to load centers, the projects reduce reliance on distant generation and transmission infrastructure while improving local grid responsiveness.
Natixis Corporate & Investment Banking acted as the sole arranger and lender for the financing. The transaction reflects continued lender activity in U.S. energy storage markets. Multi-asset portfolios and standardized project structures are increasingly used to support scale, execution efficiency and capital deployment.
David Arfin, CEO and Co-founder, NineDot Energy said that the USD 431 million construction financing reflected the scale of NineDot Energy BESS pipeline and supported portfolio execution across New York City.
Jim Kaiser, Head of Infrastructure and Energy, Natixis CIB said that the transaction provided a tailored financing structure for construction of the battery storage portfolio and Natixis CIB expects to continue supporting NineDot Energy capital requirements.