US battery energy storage system (BESS) developer-operator Jupiter Power has closed a US$1.4 billion financing, supporting 10 US BESS projects totalling 3,600MWh of capacity.
Announced 16 September, Jupiter secured the financing across four separate transactions to support projects in Texas and Michigan, totalling 1,500MW/3,600MWh.
The transactions include senior secured project debt, tax equity bridge loans, and an investment-grade US private placement, reflecting what the company claimed was continued strong institutional appetite for Jupiter’s differentiated BESS platform. Closing between April and July 2026, the transactions bring total financings since the company’s inception to more than US$3 billion.
The company’s largest deal to date came in July with a US$536 million senior secured facility comprising a Construction Term Loan, Tax Equity Bridge Loan and Letter of Credit Facilities. The package will finance three Texas projects: Tidwell Prairie II, Bee Branch and Barton Branch. HSBC Bank US, N.A. and SMBC acted as lenders.
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A month earlier, Jupiter Power completed a US$281 million senior secured note issuance and Letter of Credit Facility through a US private placement. The notes, rated BBB- by Kroll Bond Rating Agency (KBRA), are backed by three operational BESS projects: Tidwell Prairie I and St. Gall II in Texas, and Tibbits in Michigan. AB CarVal and Nuveen purchased the notes, whilst Barclays and HSBC Securities Inc served as placement agents.
In May, the developer closed a US$294 million financing package consisting of a Construction Term Loan, Tax Equity Bridge Loan and Letter of Credit Facilities for Grand Basin and Voyager I, a two-project BESS portfolio in Michigan interconnected to the MISO market. ING Capital and Societe Generale provided the financing.
Jupiter Power also secured a US$258 million senior secured facility in April, comprising a Construction Term Loan, Tax Equity Bridge Loan and Letter of Credit Facilities, to fund the development and construction of Callisto II and Pamela Heights I in Harris County, Texas. Societe Generale and MUFG served as Coordinating Lead Arrangers.
Energy-Storage.news also reported in January that Jupiter had closed a US$500 million senior secured green revolving loan and letter of credit facility to support the advancement of its US project pipeline.
In March, Massachusetts state officials approved Jupiter’s 700MW/2,800MWh Trimount BESS project. The Trimount BESS project is part of a broader redevelopment effort at the former ExxonMobil oil depot location in Everett, Middlesex County, Massachusetts.
Trimount was among 1,268MW of BESS resources selected through the state Department of Energy Resources (DOER) Section 83E Storage request for proposals (RFP) held in 2025, along with projects from FlatIron Energy, River Mill Storage and Rhynland Energy. The Massachusetts DOER launched a new RFP for 1,000MW of energy storage in early August.
