Ninedot Energy Closes $25 Million Revolving Credit Facility With Ny Green Bank (Nygb)

NineDot Energy®, a leading developer of community-scale clean energy projects, today announced the closing of a new $25 million revolving credit debt facility provided by NY Green Bank (NYGB), a division of the New York State Energy Research and Development Authority (NYSERDA). This facility is the first purely energy storage transaction completed by NYGB. For NineDot Energy, this financing will help fund the Company’s growing pipeline of battery storage projects being built in support of New York’s transition to cleaner, more sustainable energy sources, and is consistent with NineDot’s goal of installing 400 megawatts (1600 megawatt hours) by the end of 2026. For NY Green Bank, this transaction represents another step in its innovative financial support of New York State's Climate Leadership and Community Protection Act (CLCPA) goal to develop 3000 megawatts of storage by 2030 (on the path to developing a nation-leading 6000 megawatts of energy storage).