US battery energy storage system (BESS) developer-operator Jupiter Power has closed a US$500 million senior secured green revolving loan and letter of credit facility to support the advancement of its project pipeline across the US.
This builds on the company’s previously announced US$225 million corporate credit facility from November 2024.
Barclays Bank PLC, HSBC Bank USA, ING Capital LLC, National Association, Societe Generale, and SMBC served as coordinating lead arrangers. HSBC Bank USA, National Association, also acted as administrative and collateral agent. Kirkland & Ellis provided legal counsel for the borrower, while Latham & Watkins represented the lenders.
Jesse Campbell, Jupiter Power’s Chief Financial Officer, noted: “This additional liquidity launches us into our post-‘One Big Beautiful Bill Act’ (OBBBA) growth phase, supporting not just the major new domestic BESS procurement recently closed but also numerous projects proceeding into construction and major advancement of our development pipeline.”
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In December 2025, Massachusetts’s Department of Energy Resources (DOER) completed the evaluation of bids received in response to the Section 83E Storage request for proposals (RFP), selecting projects totalling 1,268MW of energy storage capacity. One of the selected projects was the 700MW Trimount BESS, located at a former coal-fired power plant.
The company also made a recent multi-year agreement with Sodium-ion (Na-ion) BESS startup Peak Energy, which will see Peak supply up to 4.75GWh of Na-ion BESS to Jupiter Power for deployment between 2027 and 2030.
Jupiter Power reports approximately 8,000MWh of BESS projects that are operational, under construction, or under contract, with a development pipeline exceeding 12GW across the country.
Continuing its active 2025, the company also agreed to a large-scale BESS contract with Texas utility Austin Energy to provide up to 100MW of electricity.
That agreement is estimated to be worth US$14.4 million annually, with a maximum duration of 20 years, totalling approximately US$288 million. This marks Austin Energy’s largest energy storage project so far.
The Energy Storage Summit USA will be held from 24-25 March 2026, in Dallas, TX. It features keynote speeches and panel discussions on topics like FEOC challenges, power demand forecasting, and managing the BESS supply chain. ESN Premium subscribers can get an exclusive discount. For complete information, visit the Energy Storage Summit USA website.
