NineDot Energy, a developer of clean energy projects backed by Carlyle, has closed its $85 million construction-to-term debt facility.
The facility works to support the construction and operation of 11 of NineDot’s battery storage sites in the Bronx, Staten Island, Queens and Long Island. Combined with NineDot’s existing equity capital base, the new funding looks to drive the local electricity grid while facilitating New York City’s and the state’s decarbonization initiatives by integrating more clean energy into the grid during times of peak demand. The facility was provided by CIT and SMBC, two financial services companies for renewable energy projects.
“This milestone is a testament to NineDot Energy’s role in transitioning to a cleaner, more reliable grid and the power of Carlyle’s broad network in supporting growth for our strategic partners through bespoke value creation plans,” comments Pooja Goyal, chief investment officer of Carlyle’s infrastructure group.