A Brooklyn-based community-scale energy storage developer has secured sufficient funding to purchase almost 100 MW/400 MWh of battery energy storage systems (BESS) for its projects in the NYC metropolitan area.
NineDot Energy is installing battery and fuel cell-based energy storage projects in NYC and wants to have up to 50 battery sites in development, under construction, and operational in 2026.
The company, whose projects are all planned in the densely-populated NYC metro area, has now been backed by $65 million from lenders led by First Citizens Bank, for the purchase of BESS equipment. The latest injection of funding is part of a $500 million-plus capital pile secured to date.
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I’m assuming that at this point, after the big Vistra BESS burnup at Moss Landing, any new BESS deployed in or near urban areas will be LFP, aqueous zinc, or some other non-flammable chemistry. Highly flammable batteries will probably not be approved much less insured for BESS.