New York Green Bank Provides $25 million credit debt facilit..
The credit facility will help fund NineDot Energy’s pipeline of battery storage projects in New York State, and is the first pure play energy storage transaction completed by NY Green Bank.
...NineDot is expected to use the proceeds of this revolving credit facility to finance 14 battery storage projects and the company expects that number to grow to about 40 projects or more, each up to 5 MW. NineDot reports that a 5 MW battery site can power approximately 5000 New York City households for four hours on a hot summer day. For NYGB, this transaction supports New York State’s Climate Leadership and Community Protection Act (CLCPA) goal to develop 3 GW of storage by 2030, on the path to developing a nation-leading 6 GW of energy storage. This facility is the first purely energy storage transaction completed by NYGB....gffa..