Jupiter Power Raises $500 Million to Boost Battery Energy Storage Expansion Efforts

Jupiter Power Secures $500 Million to Accelerate Growth

Jupiter Power LLC has achieved a substantial milestone by finalizing a $500 million Senior Secured Green Revolving Loan and Letter of Credit Facility. This financing expands upon their initial $225 million facility established in September 2024, allowing the company to accelerate its project development across the United States.

As a key player in the utility-scale battery energy storage systems sector, Jupiter Power's new funding will enable them to advance their impressive project pipeline further. The facility provides flexible capital for borrowings or letters of credit, which are essential for their ambitious growth strategy. The partnership with notable financial institutions such as Barclays Bank PLC, HSBC Bank USA, ING Capital LLC, National Association, Société Générale, and SMBC exhibits a strong vote of confidence in the company's trajectory.

The Chief Financial Officer, Jesse Campbell, remarked, “This upsizing represents another big step in Jupiter Power's growth and underscores the confidence our banking partners have in our ability to continue delivering high-quality BESS projects with long-term contracted cash flows.” This new liquidity taps into their post-OBBBA growth phase, ensuring the sustainability of existing commitments and enabling new projects to move into construction.

Currently, Jupiter Power boasts nearly 8,000 MWh of battery energy storage projects that are either operational or under contract, with an extensive development pipeline exceeding 12 GW across the nation. It signifies their leadership in the energy sector, especially in enhancing the efficiency and reliability of grid infrastructures.

HSBC's Head of Renewables for the Americas, Paul Snow, expressed support for Jupiter Power’s ongoing growth, emphasizing the company’s role in scaling crucial energy storage infrastructure—critical for energy security in the U.S. The expansion of the credit facility not only reflects the strength of their operational platform but emphasizes a shared commitment to advancing renewable energy.

Further affirming this sentiment, Paul Jun, Group Head at SMBC, praised Jupiter’s leadership in energy storage, highlighting their critical role in improving the national grid framework.

Established in Austin, Texas, Jupiter Power is at the forefront of developing advanced energy storage solutions. With a diverse range of operational capabilities in trading, analytics, development, finance, and construction, the company is poised for further achievements. They are committed to developing over 12,000 MW of projects, spanning from California to Maine.

In speaking about the company’s vision and future prospects, more information can be found on Jupiter Power’s social media outlets, including Twitter, LinkedIn, and Facebook, or their official website, www.jupiterpower.io.

Jupiter Power's planned investment and expansion strategies will likely play a pivotal role in addressing contemporary energy challenges, positioning themselves as leaders in the energy storage field. This success story not only underscores their commitment to renewable energy but also highlights the growing importance of energy storage solutions in today's world, emphasizing their role in a sustainable energy future.