Jupiter Power LLC has closed US$1.4 billion of financing across four separate transactions, supporting 10 utility scale battery energy storage system (BESS) projects in Texas and Michigan, the US, totalling 1500 MW/3600 MWh of capacity.
The transactions include senior secured project debt, tax equity bridge loans, and an investment-grade US private placement, reflecting continued strong institutional appetite for Jupiter’s differentiated energy storage platform. Closing between April and July 2026, the transactions bring total financings since the company’s inception to more than US$3 billion.
Jupiter Power, a pioneering stand-alone BESS company active since 2017, is one of the oldest, largest, and fastest growing in the country. The company currently has 5.6 GW/19.7 GWh of projects operating, in construction, or under contract – and an additional 23 GW of projects in development across all major US power markets.
Jesse Campbell, Jupiter Power’s Chief Financial Officer, responded: “These financings are collectively a testament to the depth and diversity of our capital markets relationships and our execution capabilities. With strong, steady growth and a deep project pipeline, Jupiter is building one of the most robust energy storage platforms in the country.”
In July 2026, Jupiter Power closed its single largest project financing to date: a US$536 million senior secured facility consisting of a Construction Term Loan, Tax Equity Bridge Loan, and Letter of Credit Facilities. This will finance the construction of three other Texas projects, Tidwell Prairie II, Bee Branch, and Barton Branch. HSBC Bank US, N.A., and SMBC served as lenders.
Paul Jun, SMBC Head of Power & New Energies Project Finance for North America, noted: “This financing underscores SMBC’s commitment to supporting the buildout of grid scale battery storage in the US, and we’re pleased to partner with Jupiter Power on a construction facility that will bring three more projects online.”
In June 2026, Jupiter Power closed a US$281 million senior secured note issuance and Letter of Credit Facility under a US private placement, rated BBB- by Kroll Bond Rating Agency (KBRA), collateralised by three operational BESS projects: Tidwell Prairie I and St. Gall II in Texas, and Tibbits in Michigan. AB CarVal and Nuveen served as note purchasers, with Barclays and HSBC Securities INC acting as placement agents.
In May 2026, Jupiter Power closed a US$294 million financing package consisting of a Construction Term Loan, Tax Equity Bridge Loan, and Letter of Credit Facilities, to support the construction of Grand Basin and Voyager I, a two-project BESS portfolio in Michigan, interconnected within the MISO market. ING Capital and Societe Generale served as lenders.
Scott Hancock, Managing Director, Renewables & Power, Americas, ING Capital, commented: “ING Capital is glad to back Jupiter Power’s expansion into the MISO market, financing two new Michigan projects that reflect the growing geographic diversity of the battery storage sector.”
Jupiter Power also closed a US$258 million senior secured facility consisting of a Construction Term Loan, Tax Equity Bridge Loan, and Letter of Credit Facilities in April 2026 to finance the development and construction of Callisto II and Pamela Heights I, two Texas projects located in Harris County. Societe Generale and MUFG served as Co-ordinating Lead Arrangers.
Kevin Cartoski, Director, Energy+ Group, Societe Generale Americas, added: “Societe Generale has now financed two of Jupiter Power’s project portfolios this year alone, and we look forward to continuing to grow alongside one of the sector’s most active developers.”
Clark Miller, Managing Director, North America Power Project Finance, concluded: “MUFG is proud to support Jupiter Power on its important financings. Jupiter shares our commitment to meeting the growing power need in the US. As the power sector continues to evolve, MUFG is dedicated to helping clients find the unique capital solutions that work best for them.”
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