The company launched its range of capital solutions for battery storage developers in January this year, offering land purchases, lease purchases and land loans for projects.
SolaREIT, founded in 2020 by self-proclaimed clean energy industry veterans, aims to streamline the process of acquiring suitable land for solar and storage projects, which can be capital and land-intensive. According to the company, around 15% of a project’s total cost goes on land.
Ninedot CEO and co-founder David Arfin said the REIT “tailored a product that supported our purchase of some sites for our battery storage projects,” based on an understanding of the developer’s needs.
Ninedot is developing between 30 and 40 battery energy storage system (BESS) projects in the New York Metropolitan areas of New York City, Westchester County and Long Island, each planned with 5MW output and 20MWh capacity (4-hour duration).
As defined by research and analysis group Wood Mackenzie, community-scale energy storage is a solar-paired or standalone storage facility “brought online within a specific community-scale generation programme.”
Within New York, that means the state’s Value of Distributed Energy Resources (VDER) scheme, sometimes also referred to as the Value Stack. Under VDER, distributed energy resources such as solar PV and storage are compensated based on a set of key metrics relating to the value they provide.
That value is defined in terms of energy, capacity,…
