Jupiter Power Secures USD 1.4 Billion for 1,500 MW/3,600 MWh BESS Projects in US
Jupiter Power has secured USD 1.4 billion in financing for 10 utility-scale BESS projects totalling 1,500 MW/3,600 MWh across Texas and Michigan in the US.
September 18, 2026. By Mrinmoy Dey
The transactions include senior secured project debt, tax equity bridge loans, and an investment-grade US private placement. Closing between April and July 2026, the transactions bring total financings since the company's inception to more than USD 3 billion, the company stated.
It further added that Jupiter Power currently has 5.6 GW/19.7 GWh of projects operating, in construction or under contract – and an additional 23 GW of projects in development across all major US power markets.
Jesse Campbell, Chief Financial Officer, Jupiter Power, said, “These financings are collectively a testament to the depth and diversity of our capital markets relationships and our execution capabilities. With strong, steady growth and a deep project pipeline, Jupiter is building one of the most robust energy storage platforms in the country.”
In July, Jupiter Power closed its single largest project financing to date: a USD 536 million senior secured facility consisting of a Construction Term Loan, Tax Equity Bridge Loan and Letter of Credit Facilities. This will finance the construction of three other Texas projects, Tidwell Prairie II, Bee Branch and Barton Branch. HSBC Bank US and SMBC served as lenders.
Paul Jun, SMBC Head of Power and New Energies Project Finance for North America, said, “This financing underscores SMBC's commitment to supporting the buildout of grid-scale battery storage in the US, and we're pleased to partner with Jupiter Power on a construction facility that will bring three more projects online.”
In June, Jupiter Power closed a USD 281 million senior secured note issuance and Letter of Credit Facility under a US private placement, rated BBB- by Kroll Bond Rating Agency (KBRA), collateralised by three operational BESS projects: Tidwell Prairie I and St. Gall II in Texas, and Tibbits in Michigan.
In May, Jupiter Power closed a USD 294 million financing package consisting of a Construction Term Loan, Tax Equity Bridge Loan, and Letter of Credit Facilities, to support the construction of Grand Basin and Voyager I, a two-project BESS portfolio in Michigan, interconnected within the MISO market. ING Capital and Societe Generale served as lenders.
Scott Hancock, Managing Director, Renewables & Power, Americas, ING Capital, said, “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.”
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