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NineDot Secures $225 Million to Expand NYC Battery Energy Storage Projects and Explore New Markets.

NineDot, a New York-based developer of distributed BESS sites, has secured US$225 million in equity capital commitments from Manulife Investment Management (Manulife), another global investment firm, Carlyle. This brings NineDot’s total investment to over US$400 million and will be used to advance its NYC pipeline and potentially expand into other geographies. The company is thought to be developing around 30 to 40 separate lithium-ion BESS projects around the city, each planned as 5MW output with 4-hour duration (20MWh). It monetises these assets through market and incentive programmes like the Value of Distributed Energy Resources (VDER) programme.

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