Jupiter Power, a U.S.-based developer and operator of utility-scale battery energy storage systems, has strengthened its growth platform by securing a $500 million senior secured green revolving credit facility. The financing significantly expands the company’s previous $225 million facility and is intended to support the continued rollout of large-scale battery storage projects across the United States.
The expanded facility provides Jupiter Power with flexible access to capital through borrowings or letters of credit, enabling faster execution of projects at various stages of development and construction. The transaction reflects growing lender confidence in the role of battery energy storage as a critical component of grid reliability and the broader energy transition.
A syndicate of global financial institutions arranged the facility, with Barclays, HSBC, ING, Société Générale, and SMBC serving as Coordinating Lead Arrangers. HSBC also acts as Administrative Agent and Collateral Agent. Legal counsel for the transaction was provided by Kirkland & Ellis on behalf of Jupiter Power, while Latham & Watkins represented the lenders.
Jesse Campbell, Chief Financial Officer of Jupiter Power, said the upsized facility marks a significant milestone in the company’s growth and demonstrates strong confidence from its banking partners in Jupiter Power’s ability to deliver high-quality battery energy storage projects supported by long-term contracted cash flows. He added that the additional liquidity positions the company for its next phase of expansion, supporting recently secured domestic battery storage procurements as well as multiple projects advancing into construction and further development.
Jupiter Power currently has nearly 8,000 MWh of battery energy storage capacity that is operating, under construction, or under contract, alongside a nationwide development pipeline exceeding 12 GW.
Paul Snow, Head of Renewables, Americas at HSBC Infrastructure Finance, noted that the expanded facility reflects both the strength of Jupiter Power’s platform and a shared commitment to scaling critical energy storage infrastructure to support energy security across the United States.
Paul Jun, Group Head of Power & New Energies North America at SMBC, emphasized the importance of energy storage in enhancing grid infrastructure and said Jupiter Power has demonstrated leadership in the sector as it continues to accelerate its build-out.
Source: Company announcement via PR Newswire
