Jupiter Power Upsizes Green Credit Facility to Fuel BESS Growth

Jupiter Power LLC, a leading developer and operator of utility-scale battery energy storage systems (BESS), has closed a $500 million senior secured green revolving loan and letter of credit facility, significantly upsizing its existing $225 million facility originally closed in September 2024. 

The expanded facility provides flexible capital for borrowings and letters of credit to support the continued advancement of Jupiter Power’s growing project portfolio across the U.S., including projects moving into construction and later-stage development. 

“This additional liquidity launches us into our post-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,” said Jesse Campbell, chief financial officer of Jupiter Power. 

The financing was led by a global syndicate of banks, with Barclays Bank PLC, HSBC Bank USA, ING Capital LLC, Société Générale, and SMBC serving as coordinating lead arrangers. HSBC Bank USA also acted as administrative agent and collateral agent. 

Jupiter Power currently has nearly 8,000 MWh of battery storage projects operating, under construction, or under contract. The company’s broader development pipeline exceeds 12 GW nationwide. 

Kirkland & Ellis served as borrower’s counsel, while Latham & Watkins acted as lenders’ counsel.