Cit serves as co-lead on $85 million in financing for ninedot energy

New york , dec. 7, 2022 /prnewswire/ -- cit, a division of first citizens bank, today announced that its power and energy business served as co-coordinating lead arranger on an $85 million construction-to-term debt financing for ninedot energy llc ("ninedot energy"), a leading developer of distributed community energy projects in the new york city metro region. ninedot energy, a portfolio company of the global investment firm carlyle group inc. (nasdaq: cg), will use the proceeds to develop 11 stand-alone battery storage projects totaling 43 megawatts of capacity across the bronx, staten island, queens and long island.
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