Jupiter Power Secures $225M Energy Storage Credit Facility
Jupiter Power LLC, a developer and operator of utility-scale battery energy storage systems, closed a $225 million corporate credit facility, which includes up to $175 million in letters of credit and $50 million in revolving loans.
The transaction aims to strengthen Austin, TX-based Jupiter Power’s ability to advance its expanding U.S. portfolio, which includes energy storage development pipelines totaling more than 12,000 MW from California to Maine.
“Securing this corporate credit facility highlights the market’s recognition of Jupiter Power as a leader in advancing large-scale energy storage solutions, as evidenced by our 2,575 MWh of battery energy storage systems already in operation or construction,” said Jesse Campbell, CFO of Jupiter Power.
Barclays Bank PLC, HSBC Bank USA, and Sumitomo Mitsui Banking Corporation led the transaction on the lender side, serving as coordinating lead arrangers. Kirkland & Ellis acted as borrower’s counsel and Latham & Watkins as lenders’ counsel.