From: Mercom Capital Group
Jupiter Power, a utility-scale energy storage project developer and operator, has closed $1.4 billion in financing across four transactions to support ten storage projects in Texas and Michigan.
The utility-scale battery projects have a combined capacity of 1,500 MW/3,600 MWh. The transactions, which closed from April to July 2026, include senior secured project debt, tax equity bridge loans, and a U.S. private placement.
The latest transactions bring the company’s total financing since inception to more than $3 billion.
In July, the company closed a $536 million senior secured facility, its largest project financing to date. The facility comprises a construction term loan, tax equity bridge loan, and letter of credit facilities.
The financing will support the construction of three projects in Texas, Tidwell Prairie II, Bee Branch, and Barton Branch. HSBC Bank US, N.A. and SMBC served as lenders.
In June, Jupiter Power completed a $281 million senior secured note issuance and letter of credit facility through a U.S. private placement. Kroll Bond Rating Agency rated the transaction BBB-minus.
The financing is collateralized by three operational battery storage projects, Tidwell Prairie I and St. Gall II in Texas, and Tibbits in Michigan. AB CarVal and Nuveen served as note purchasers, while Barclays and HSBC Securities Inc. acted as placement agents.
In May, the company closed a $294 million financing package comprising a construction term loan, tax equity bridge loan, and letter of credit facilities.
The financing will support the construction of Grand Basin and Voyager I, two battery storage projects in Michigan interconnected to the Midcontinent Independent System Operator market. ING Capital and Societe Generale served as lenders.
Jupiter Power also closed a $258 million senior secured facility in April. The facility includes a construction term loan, tax equity bridge loan, and letter of credit facilities for the development and construction of Callisto II and Pamela Heights I in Harris County, Texas.
Societe Generale and MUFG served as coordinating lead arrangers for the April transaction.
According to Mercom’s recently released 1H 2026 Funding and M&A for Energy Storage report, publicly announced energy storage project funding reached a record $42.5 billion across 104 deals in 1H 2026, a 217% increase YoY from $13.4 billion across 48 deals in 1H 2025.
Jupiter Power said it currently has 5.6 GW and 19.7 GWh of battery storage projects operating, under construction, or under contract. The company also has an additional 23 GW of projects under development across major U.S. power markets.
In June, Spearmint Energy, a U.S.-based energy storage company, secured an expanded $325 million debt facility from Nuveen Energy Infrastructure Credit, Elda River Capital Management, Harrison Street Asset Management, and Aiga Capital Partners.
