Leading battery storage developer, NineDot Energy, secures $225 million equity financing from Manulife Investment Management and Carlyle.
Major Equity Funding for NineDot Energy
NineDot Energy, the premier developer of community-scale battery energy storage systems in the NYC metropolitan area, announces a significant milestone with a $225 million equity capital commitment. The investment, led by Manulife Investment Management and Carlyle, is expected to propel NineDot’s ambitious project pipeline and support geographical expansion.
Supporting New York’s Clean Energy Vision
Aligned with New York Governor Hochul’s roadmap for 6,000 megawatts of energy storage capacity by 2030, NineDot’s battery storage projects play a crucial role in advancing sustainable energy infrastructure. The funding positions NineDot as a key player in accelerating the retirement of inefficient plants and ensuring a stable and resilient grid.
NineDot’s Growth Trajectory and Green Initiatives
With a capital base of approximately $400 million, NineDot aims to achieve 400 megawatts of battery storage capacity by 2026. The company’s commitment to safety, adherence to stringent requirements, and community-scale projects, like the Pelham Gardens site, make it a pioneer in the NYC battery storage landscape.
Source：businesswire.com
