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New York & Tri-State  + Uptown/Bronx  + Finance  |  December 7, 2022
NineDot Energy has closed a new $85-million debt facility to support the construction and operation of 11 of its battery storage sites
Paul Bubny
By: Paul Bubny

NineDot Energy Closes on $85M Construction Loan

NineDot Energy, a leading developer of community-scale clean energy projects backed by the global investment firm Carlyle, has closed a new $85-million construction-to-term debt facility. Provided by CIT and SMBC, the facility supports the construction and operation of 11 of New York City-based NineDot’s battery storage sites in the Bronx, Staten Island, Queens, and Long Island.  

“Completing this debt financing is another major accomplishment, in a year of accomplishments, for NineDot Energy,” said David Arfin, NineDot Energy CEO and co-founder.  

He continued, “Just about four months ago, we unveiled our first-of-its-kind battery storage site in the Bronx. With this project finance facility, we will accelerate the growth of our community energy pipeline and implementation, bringing the benefits of distributed, local battery storage solutions to the broadest range of organizations and communities in the New York City region 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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