US Round-Up: NineDot closes $431M financing for NYC, e-STORAGE inks 503 MWh Texas deal, FlexGen brings 174 MW online

Developer NineDot Energy announced this week it secured $431 million in debt financing to support the construction of 28 community-scale battery energy storage systems in the New York City metro area. Led by Natixis Corporate & Investment Banking, the funding covers a portfolio totaling 124 MW/494 MWh.

The company said it expects the projects to reach commercial operation on a rolling basis throughout 2027. Once operational, the assets will participate in New York’s “Statewide Solar for All” program, with a portion of grid export revenues directed to a savings pool for low-income utility customers.

“With this financing, NineDot has raised more than one billion dollars to bring community battery storage to the NYC metro area,” said David Arfin, NineDot Energy CEO and co-founder.

e-STORAGE to supply 503 MWh to Sunraycer

Canadian Solar subsidiary e-STORAGE has signed a supply and service agreement with developer Sunraycer for two standalone battery projects in Franklin County, Texas. The deal covers the 202 MWh Lupinus 1 and 301 MWh Lupinus 2 projects, totaling 503 MWh of capacity.

Both sites will utilize e-STORAGE’s SolBank 3.0 containerized battery solution. Construction on Lupinus 2 is scheduled to begin in Q3 2026, with Lupinus 1 following in Q1 2027. Commercial operations for the portfolio are targeted for 2027. The agreement includes a 10-year long-term service contract to support operations in the ERCOT market, one of the world’s most active when it comes to storage. The earliest signs of the ERCOT market showing maturity are emerging, with a recent fall in ew applications.

FlexGen and Alliant Energy commission 174 MW

Integrator FlexGen and utility Alliant Energy have brought two utility-scale storage projects online in the Midwest. The 75 MW Wood County facility in Wisconsin and the 99 MW Wever facility in Iowa are now fully operational.

The batteries are co-located with solar generation and utilize FlexGen’s HybridOS energy management software to control dispatch and manage renewable intermittency. The systems are designed to provide capacity during peak demand periods and support long-term load growth for Alliant’s service territory.

“Our mission is to equip utilities and the communities they serve with solutions to harness, store, and distribute the energy that is vital to our daily lives and economies,” said Jason Rislov, Senior Vice President of Operations at FlexGen. “As grid conditions grow more dynamic, battery storage gives companies like Alliant Energy the confidence to deliver energy as promised while integrating renewable generation, strengthening grid resiliency, and meeting long-term load growth.”

Ameresco completes ITC transfers and debt financing

Ameresco has closed a series of transactions involving long-term debt financing and the transfer of investment tax credits (ITCs) for its battery storage assets. The deals were executed through a private shelf facility with CounterpointeSRE and Barings.

Recent activity under the facility includes the sale of ITCs generated by a completed 50 MW/200 MWh battery project and the debt financing of a separate 25 MW/100 MWh storage asset. The structure allows Ameresco to monetize tax credits upon commercial operation to repay bridge financing while securing long-term capital for its development pipeline.

“These newly completed transactions mark another important step in our strategy to deploy long‑duration, flexible capital solutions that support the rapid expansion of solar and advanced energy storage infrastructure across the country,” said George Sakellaris, President & CEO of Ameresco.

“The versatility of the CounterpointeSRE/Barings private shelf facility enables us to efficiently finance a diverse range of assets while helping our customers advance their resilience, reliability, and decarbonization goals. We look forward to continuing to execute additional transactions under this structure as we scale our development pipeline,” he continued.

“These transactions demonstrate the value of a scalable financing platform that supports the continued build-out of energy storage and solar infrastructure,” said Eric Alini, CEO of CounterpointeSRE.