Jupiter Power LLC has secured USD 1.4 Billion in project financing across four separate transactions to support the development and construction of ten utility-scale battery energy storage system projects in Texas and Michigan. The deals, which closed between April and July 2026, bring the company's total financings since its founding in 2017 to more than USD 3 Billion.

The ten projects collectively represent 1,500 MW and 3,600 MWh of capacity. The financing structures span senior secured project debt, tax equity bridge loans, and an investment-grade U.S. private placement, reflecting what Jupiter Power described as continued institutional demand for its energy storage platform.

A Company Built on Storage Since 2017

Jupiter Power describes itself as one of the oldest, largest, and fastest-growing stand-alone battery energy storage companies in the United States. The company currently has 5.6 GW and 19.7 GWh of projects that are either operating, under construction, or under contract, with an additional 23 GW of projects in development across major U.S. power markets. The company maintains offices in Austin, Houston, and Chicago.

Jesse Campbell, Jupiter Power's Chief Financial Officer, attributed the financing success to the breadth of the company's capital markets relationships. "These financings are collectively a testament to the depth and diversity of our capital markets relationships and our execution capabilities," Campbell said. "With strong, steady growth and a deep project pipeline, Jupiter is building one of the most robust energy storage platforms in the country."

July Closing: Largest Single Deal to Date

The most recent and largest of the four transactions closed in July 2026, when Jupiter Power secured a USD 536 Million senior secured facility. The package consists of a Construction Term Loan, Tax Equity Bridge Loan, and Letter of Credit Facilities, and will finance the construction of three Texas projects: Tidwell Prairie II, Bee Branch, and Barton Branch. HSBC Bank US, N.A. and SMBC served as lenders on the transaction.

Paul Jun, SMBC's Head of Power and New Energies Project Finance for North America, said the financing reflects the bank's broader commitment to grid-scale battery storage in the United States. "This financing underscores SMBC's commitment to supporting the buildout of grid-scale battery storage in the U.S., and we're pleased to partner with Jupiter Power on a construction facility that will bring three more projects online," Jun said.

June Closing: Investment-Grade Private Placement

In June, Jupiter Power closed a USD 281 Million senior secured note issuance and Letter of Credit Facility through a U.S. private placement. The notes received a BBB- rating from Kroll Bond Rating Agency and are collateralized by three operational battery storage projects: Tidwell Prairie I and St. Gall II, both in Texas, and Tibbits in Michigan.

AB CarVal and Nuveen served as note purchasers for the transaction. Barclays and HSBC Securities Inc. acted as placement agents. The investment-grade rating and the involvement of institutional note purchasers signals continued appetite among fixed-income investors for operational energy storage assets.

May Closing: Michigan Expansion Into MISO

Jupiter Power closed a USD 294 Million financing package in May to support the construction of Grand Basin and Voyager I, a two-project portfolio located in Michigan and interconnected within the Midcontinent Independent System Operator market. The package includes a Construction Term Loan, Tax Equity Bridge Loan, and Letter of Credit Facilities. ING Capital and Societe Generale served as lenders.

Scott Hancock, Managing Director of Renewables and Power for the Americas at ING Capital, said the deal reflects the geographic expansion of the battery storage sector. "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," Hancock said.

April Closing: Two Harris County, Texas Projects

The earliest of the four transactions closed in April 2026, when Jupiter Power secured a USD 258 Million senior secured facility to finance the development and construction of Callisto II and Pamela Heights I, two projects located in Harris County, Texas. The package also consists of a Construction Term Loan, Tax Equity Bridge Loan, and Letter of Credit Facilities. Societe Generale and MUFG served as Coordinating Lead Arrangers.

Societe Generale's Kevin Cartoski, a Director in the bank's Energy+ Group, noted that the French bank has now financed two separate Jupiter Power project portfolios within the same calendar year. "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," Cartoski said.

Clark Miller, Managing Director of North America Power Project Finance at MUFG, also commented on the deal. "Jupiter shares our commitment to meeting the growing power need in the U.S. As the power sector continues to evolve, MUFG is dedicated to helping clients find the unique capital solutions that work best for them," Miller said.

Lender Roster Spans Global Institutions

Across the four transactions, Jupiter Power drew financing from a broad range of global financial institutions, including HSBC Bank US, SMBC, ING Capital, Societe Generale, MUFG, AB CarVal, Nuveen, and Barclays. The diversity of lenders and structures ranging from construction debt to investment-grade private placements, illustrates the multiple financing channels available to large-scale battery storage developers at this stage of market maturation.

Jupiter Power said its platform combines trading, analytics, development, finance, operations, construction, and dispatch optimization capabilities. The company is developing projects from California to Maine, according to its corporate description.

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