Ninedot and SolaREIT offering capital solutions for battery storage developers in New York

SolaREIT and Ninedot are making waves in the clean energy industry with their innovative solutions for battery storage developers. By offering capital solutions for land purchases, lease purchases, and land loans, these companies are helping streamline the process of acquiring suitable land for solar and storage projects, which can be both capital and land-intensive.

Ninedot, in particular, is making significant strides in the New York Metropolitan areas, where they are developing between 30 and 40 battery energy storage system (BESS) projects. These projects are crucial for meeting New York’s goal of deploying 6GW of energy storage by 2030 under the state’s Climate Leadership and Community Protection Act (CLPA) policy.

One of Ninedot’s key strategies for monetizing their BESS assets is through participation in New York’s Value of Distributed Energy Resources (VDER) scheme. This scheme compensates distributed energy resources like solar PV and storage based on their value in terms of energy, capacity, environmental impact, demand reduction, and locational system relief. By enrolling in VDER, companies like Ninedot can not only provide value to the grid but also offer benefits to customers like coffee chain Starbucks, who can subscribe to the community programme.

In addition to their involvement in VDER, Ninedot is also exploring other opportunities to monetize their assets, such as participating in demand response programs and vehicle-to-grid (V2G) pilot projects. By securing financing through equity capital commitments and partnerships with companies like Manulife and AB CarVal, Ninedot is well-positioned to continue their expansion and make significant contributions to the clean energy industry.

With their focus on developing community-scale energy storage projects and leveraging innovative financing solutions, SolaREIT and Ninedot are paving the way for a more sustainable future in the clean energy sector. Their commitment to finding creative solutions to the challenges of land acquisition and project financing is not only beneficial for their business but also for the environment and local communities.